WestPoint Stevens Captures Charisma License for Entry Into Ultimate Luxury Bed and Bath
08 Diciembre 2004 - 8:00AM
PR Newswire (US)
WestPoint Stevens Captures Charisma License for Entry Into Ultimate
Luxury Bed and Bath WEST POINT, Ga., Dec. 8 /PRNewswire-FirstCall/
-- WestPoint Stevens Inc. (OTC:WSPT) (BULLETIN BOARD: WSPT) (
http://www.westpointstevens.com/ ) announced today that the Company
has gained what is perhaps the ultimate luxury brand for bed and
bath in a licensing agreement to market the famed Charisma(R) line.
Under WestPoint Stevens, Charisma's placement will be marked by
exclusivity, with limited distribution to select department stores
and upscale catalogs. "Over time, Charisma has become the absolute
standard of luxury for bed and bath products in the home
furnishings industry, with well-established brand recognition by
consumers. Few brands have had the luxury-market impact that
Charisma has shown," said President - Bed and Bath Robert B. (Bob)
Dale. "It's a brand so key that we're launching an entire new
division -- Charisma Home -- to optimize the opportunities it
offers. "In taking Charisma forward, we will stay true to the
brand's unique concept of properties while enhancing its position
as the aspirational brand for discriminating consumers whose
lifestyle embraces real luxury," Mr. Dale added. Basic Bedding
Division President Arthur (Art) Birkins sees Charisma as a
significant boost to the luxury level of that business. "Over the
past few years, there's been a surge in higher-end products in
basic bedding. There's a solid trend toward building a better bed
that starts with pads and pillows, and consumers look for higher
thread counts and upscale fabrics and constructions. Charisma
offers a great opportunity to meet these demands." At WestPoint
Stevens, Charisma Home will encompass fashion bedding and
decorative pillows, bath and bath accessories and a range of basic
bedding that includes blankets, throws and down and
down-alternative products. The anticipated Charisma shipping date
is fourth quarter 2005. "As we continue to see the whole bedding
and bath market trading up in constructions and design, Charisma is
ideal to be positioned as a 'best in class' line, with
super-premium product and price points," said Judi Alexander, who
will head up the new division as Vice President - Charisma Home."
Ms. Alexander has been with the Company for eight years, most
recently as Vice President - Marketing for the Basic Bedding
Division. "She brings impressive marketing and product development
experience to lead the Charisma Home Division, with a solid
background in the luxury market from her work with utility products
in our Ralph Lauren Home(R) license, another valuable luxury line,"
noted Mr. Dale. "Of special value to Charisma Home is her expertise
in market research and targeting specific consumers, such as those
who seek the luxury of Charisma. Before joining WestPoint Stevens,
she was part of the original launch team for the introduction of
Calvin Klein Home in 1995. Jeff Cohen, Co-Chairman of Earthbound
LLC, which chose WestPoint Stevens to market Charisma, emphasized
that WestPoint's reputation for quality product and established
success with other well-known licenses were key factors in leading
Earthbound to place the prestigious Charisma license with the home
fashions giant. "WestPoint's own flagship Martex(R) brand is an
institution in this business -- a quality product carefully built
and marketed over many years -- and the Company's success with
licenses such as Ralph Lauren Home and Disney Home(R) shows its
expertise in recognizing and maximizing brand potential. We are
confident that WestPoint Stevens will create a whole new level of
consumer demand for Charisma." The Charisma trademark is owned by
Official Pillowtex LLC. WestPoint Stevens Inc. is the nation's
premier home fashions consumer products company, with a wide range
of bed linens, towels, blankets, comforters and accessories
marketed under the well-known brand names GRAND PATRICIAN,
PATRICIAN, MARTEX, ATELIER MARTEX, BABY MARTEX, UTICA, STEVENS,
LADY PEPPERELL, SEDUCTION, VELLUX and CHATHAM -- all registered
trademarks owned by WestPoint Stevens Inc. and its subsidiaries --
and under licensed brands including RALPH LAUREN HOME, DISNEY HOME
and GLYNDA TURLEY. WestPoint Stevens can be found on the World Wide
Web at http://www.westpointstevens.com/ . Safe Harbor Statement:
Except for historical information contained herein, certain matters
set forth in this press release are "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. Such forward-looking statements involve certain risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Such risks
and uncertainties may be attributable to important factors that
include but are not limited to the following: Product margins may
vary from those projected; Raw material prices may vary from those
assumed; Additional reserves may be required for bad debts,
returns, allowances, governmental compliance costs, or litigation;
There may be changes in the performance of financial markets or
fluctuations in foreign currency exchange rates; Unanticipated
natural disasters could have a material impact upon results of
operations; There may be changes in the general economic conditions
that affect customer practices or consumer spending; Competition
for retail and wholesale customers, pricing and transportation of
products may vary from time to time due to seasonal variations or
otherwise; Customer preferences for our products can be affected by
competition, or general market demand for domestic or imported
goods or the quantity, quality, price or delivery time of such
goods; There could be an unanticipated loss of a material customer
or a material license; The availability and price of raw materials
could be affected by weather, disease, energy costs or other
factors; The future results of operations may be adversely affected
by factors relating to the Chapter 11 proceedings. The information
contained in this release is as of December 8, 2004. WestPoint
Stevens assumes no obligation to update publicly any
forward-looking statements, contained in this document as a result
of new information or future events or developments. Contact:
Lorraine D. Miller, CFA Senior Vice President Finance and External
Communications 404.378.0491 DATASOURCE: WestPoint Stevens CONTACT:
Lorraine D. Miller, CFA, Senior Vice President, Finance and
External Communications of WestPoint Stevens, +1-404-378-0491 Web
site: http://www.westpointstevens.com/
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