USA: Perry Ellis And Men's Wearhouse Develop Mondo Brands
Several of the men's wear brands that Perry Ellis has agreed to buy from the bankruptcy estate of Mondo Inc are to be jointly developed by Perry Ellis International Inc (Nasdaq:PERY) and Men's Wearhouse Inc (NYSE:MW) The agreement between Perry Ellis International and Mondo contemplates the purchase of the Mondo di Marco, Pronto Uomo and Linea Uomo trademarks. A final resolution on the transaction is expected by October 24, 2000. "Men's Wearhouse is one of the smartest retailers in the country. This agreement will allow both companies to capitalize on the brands, to enhance distribution and bring these brands to their highest awareness level ever. We expect this to be the first step in a long and fruitful relationship," said George Feldenkreis, chairman and CEO of Perry Ellis International. "The agreement with Perry Ellis International Inc, which has recognized design, production and marketing capabilities worldwide, will enable both companies to maximize the value of these brands. We are pleased that Perry Ellis International Inc has entered into this agreement and believe that, given our distribution in the United States and Canada, we see great opportunity for some of these brands in our stores," said Eric Lane, chief operating officer of The Men's Wearhouse.
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