US: Joe's Jeans signs children’s wear license
Apparel maker Joe's Jeans Inc has signed a new license agreement with Kids Jeans LLC to make and distribute apparel products for infants, girls and boys.
To date, the company's children's offerings have largely been limited to denim.
"By licensing children's apparel to a company whose founders have built successful children's businesses, we will be able to accelerate the expansion of the product categories offered to Joe's loyal customers," said Marc Crossman, Joe's Jeans president and chief executive officer.
"The addition of a full line of children's apparel to our licensed product program enhances our goal of reinforcing Joe's as a lifestyle sportswear brand.
"We expect the children's collection to complement our existing women's and men's collections."
The deal will initially run for three years, with minimum net sales commitments of $22m. It is renewable for two additional three year terms so long as certain targets are met.
US denim firm Joe's Jeans reported third quarter net income of US$1,9m, from $1.8m in the prior year period, as strong margins remained....
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