Perry Ellis International, Inc. (PERY) said it has amended and expanded its license agreement to design, manufacture and distribute apparel and related accessories with Callaway Golf Co. (ELY).
The company will assume all distribution channels in the western hemisphere including sporting goods, national accounts, green grass, tournaments, specialty golf stores, and e-commerce channels. Perry Ellis will continue to service better department & specialty stores, and the corporate wear market as per its original agreement with Callaway.
Perry Ellis anticipates this transaction to be accretive to fiscal 2014 earnings per share.
Both companies are working collectively on the transition of servicing these new geographies and channels of distribution.
by RTT Staff Writer
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