Joe’s Jeans Inc. (JOEZ)
Joe’s Jeans Announces Launch of a New Brand Exclusive to Macy’s
LOS ANGELES, CA–(Marketwire -02/29/12)- After more than a decade as a premium denim leader, Joe’s Jeans Inc. (NASDAQ: JOEZ – News) announces the launch of a new brand, else™, to be sold exclusively at Macy’s. With price points starting at $68, else™ was created to reach young women who are looking for a premium denim-like product at a more affordable price.
Macy’s has dedicated space in its Impulse departments in 140 stores throughout the U.S. to showcase the else™ brand. The new line will also be available at macys.com. The else™ product offering, which includes five staple denim fits: skinny, boot cut, cropped, boyfriend and a cuffed short, will be rolling out at Macy’s over the next two weeks.
Marc Crossman, President and CEO of Joe’s Jeans Inc., commented, “We are thrilled to be partnering with such a distinguished American institution. We look forward to an exciting and expansive business venture and the opportunity to create a unique product offering for the Macy’s customer.”
The else™ target customer is described as between the ages of 18 and 25 years old with a strong sense of self and fashion. Joe Dahan, Creative Director and Founder of Joe’s Jeans Inc., oversees the design of else™ with a newly created design team working in collaboration with Macy’s.
“We are excited to work with Joe’s Jeans to continue to bring our customer the latest in denim fashion by an industry leader with a long-standing commitment to fit and quality,” said Tim Baxter, Senior Vice President of Macy’s Women’s Division. Mr. Baxter continued, “else™ offers innovative products at an affordable price for our young, fashion-forward customers who will love this brand.”
About Joe’s Jeans Inc.
Joe’s Jeans Inc. designs, produces and sells apparel and apparel-related products to the retail and premium markets under the Joe’s® brand and related trademarks. In addition, the Company has introduced the else™ line for exclusive sale at Macy’s. More information is available at the company website at www.joesjeans.com.
This release contains forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed in this document involved estimates, projections, goals, forecasts, assumptions, risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. All statements in this news release that are not purely historical facts are forward-looking statements, including statements containing the words “intend,” “believe,” “estimate,” “project,” “expect” or similar expressions. Any forward-looking statement inherently involves risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to: the risk that the Company will be unsuccessful in gauging fashion trends and changing customer preferences; continued acceptance of the Company’s brands in the marketplace; successful implementation of any growth or strategic plans; the risk that changes in general economic conditions, consumer confidence, or consumer spending patterns will have a negative impact on the Company’s financial performance or strategies; the highly competitive nature of the Company’s business in the United States and internationally and its dependence on consumer spending patterns, which are influenced by numerous other factors; the Company’s ability to respond to the business environment and fashion trends; effective inventory management; the level of the Company’s cash flows, which will be impacted by the level of consumer spending and retailer and consumer acceptance of its products; the ability to generate positive cash flow from operations; competitive factors, including the possibility of major customers sourcing product overseas in competition with our products; the risk that acts or omissions by the company’s third party vendors could have a negative impact on the company’s reputation; a possible oversupply of denim in the marketplace; and other risks. The Company discusses certain of these factors more fully in its additional filings with the SEC, including its last annual report on Form 10-K and quarterly report on Form 10-Q filed with the SEC, and this release should be read in conjunction with those reports, together with all of the Company’s other filings, including current reports on Form 8-K, made with the SEC through the date of this release. The Company urges you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release.
Any forward-looking statement is based on information current as of the date of this document and speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update these statements to reflect events or circumstances after the date on which such statement is made. Readers are cautioned not to place undue reliance on forward-looking statements.