Perry Ellis International Signs New Licensing Agreement for Gotcha® Apparel in Europe

MIAMI, Jul 22, 2008 (BUSINESS WIRE) -- Perry Ellis International (NASDAQ:PERY) announced today that it has entered into a licensing agreement with TV Mania GMBH and Must International Trading, PTE, Ltd. to design, manufacture and distribute casual, snow and surf apparel for men, women, and children under the Gotcha® brand.

George Feldenkreis, Chairman and Chief Executive Officer of Perry Ellis International, said: "We are very excited about this agreement with TV Mania and Must International Trading. Their knowledge of both the European market and the surf lifestyle make them the ideal partner to re-launch Gotcha in Europe. We look forward to an outstanding partnership."

The line will be available throughout the European Union, as well as in Switzerland, Turkey and Norway. The product will be sold at various European department stores and specialized apparel chains, beginning with the Spring '09 collection.

"In light of the recent changes we have made in our European operations, and after carefully considering our options, we have decided to proceed with this agreement, as it strengthens the Gotcha brand, while maximizing our financial prospects," Mr. Feldenkreis concluded.


About Perry Ellis International

Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories, and fragrances. The Company's collection of dress and casual shirts, golf sportswear, sweaters, dress and casual pants and shorts, jeans wear, active wear and men's and women's swimwear is available through all major levels of retail distribution. The Company, through its wholly-owned subsidiaries, owns a portfolio of nationally and internationally recognized brands including Perry Ellis®, Jantzen®, Laundry® by Shelli Segal, C&C California®, Cubavera®, Munsingwear®, Savane®, Original Penguin®, Grand Slam®, Natural Issue®, Pro Player®, the Havanera Co. ®, Axis®, Tricots St. Raphael®, Gotcha®, Girl Star® and MCD®. The Company enhances its roster of brands by licensing trademarks from third parties including Dockers® for outerwear, Nike® and JAG® for swimwear, and PING® and PGA TOUR® for golf apparel. Additional information on the Company is available at http://www.pery.com.

About Gotcha®

Gotcha® launched its first swim trunk line in 1978 from a Laguna Beach garage. The company took the surf market by storm by creating apparel that captured the individuality and athleticism of the coastal beach culture. By 1982, Gotcha® was a household name to surfers around the world. The brand made a major impact in the market throughout the '80s and '90s, sponsoring two world-champion surfers and dozens of top-ten contenders. PEI Licensing, Inc. acquired the trademark in January 2006, helping the brand build upon its strong domestic and international name recognition.

Safe Harbor Statement

We caution readers that the forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations rather than historical facts and they are indicated by words or phrases such as "anticipate," "could," "may," "might," "potential," "predict," "should," "estimate," "expect," "project," "believe," "plan," "envision," "continue," "intend," "target," "contemplate," or "will" and similar words or phrases or comparable terminology. We have based such forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, many of which are beyond our control. These factors include: general economic conditions, a significant decrease in business from or loss of any of our major customers or programs, anticipated and unanticipated trends and conditions in our industry, including the impact of recent or future retail and wholesale consolidation, the effectiveness of our planned advertising, marketing and promotional campaigns, our ability to contain costs, disruptions in the supply chain, our future capital needs and our ability to obtain financing, our ability to integrate acquired businesses, trademarks, tradenames and licenses, our ability to predict consumer preferences and changes in fashion trends and consumer acceptance of both new designs and newly introduced products, the termination or non-renewal of any material license agreements to which we are a party, changes in the costs of raw materials, labor and advertising, our ability to carry out growth strategies including expansion in international and direct to consumer retail markets, the level of consumer spending for apparel and other merchandise, our ability to compete, exposure to foreign currency risk and interest rate risk, possible disruption in commercial activities due to terrorist activity and armed conflict, and other factors set forth in Perry Ellis International's filings with the Securities and Exchange Commission. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in Perry Ellis' filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of the date they were made. We undertake no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise.

SOURCE: Perry Ellis International