USA: Candie’s, Inc. Announces Changes To Its Management Team

Candie's, Inc. (Nasdaq NMS symbol: CAND; "the Company") today announced that it has promoted two members of its management team. John McPhee, formerly President of Candie's and Bongo Kid's division, to President of Wholesale and Gerry Bonomi, formerly President of Bongo, to Senior Vice President of Wholesale. Mr. McPhee and Mr. Bonomi will assume the responsibilities previously held by Lynn Miller, who will continue to work for Candie's in an advisory capacity from his home in Charlottesville, VA. John McPhee joined the Company in 1996 as President of the Candie's Kid's division. Between 1991 and 1996, Mr. McPhee ran the Children's division for Sam & Libby Inc., currently a division of Maxwell Shoe Corp. Prior to 1991, Mr. McPhee was Sales Manager for Jumping-Jacks Shoes Inc., his family's business. Gerry Bonomi joined the Company in 1994, as President of Bongo footwear. Between 1991-1994 Gerry was Vice President of Corporate Sales for the Pentland Group. Prior to 1991, Mr. Bonomi has held several positions at footwear and apparel companies, including No Fear. Commenting on the announcement, Neil Cole, Chairman and Chief Executive Officer stated, "I am proud to announce the promotions of John McPhee and Gerry Bonomi, as both men have tremendous knowledge and insight gained from their combined 30 years of experience in footwear and related industries, and they have made incredibly positive contributions to our Company. From its start-up in 1996, Candie's Kid's footwear has become a strong business in department and specialty stores alike. Likewise, Bongo footwear has achieved success in mid-tier channels of distribution. We believe the Company's footwear business will benefit greatly from John and Gerry's enthusiasm and industry expertise," Neil Cole concluded.