RTW Retailwinds, Inc. Announces Extension of Eva Mendes Celebrity Collaboration
03 Settembre 2019 - 1:00PM
Business Wire
~ The multi-year successful collaboration
with Eva Mendes has been extended ~
~ Strong cash flow position of $83 million
at end of 2019 second quarter and no debt provide significant
financial flexibility to deliver on its strategy ~
RTW Retailwinds, Inc. [NYSE:RTW], formerly known as New York
& Company, Inc. [NYSE: NWY], an omni-channel specialty apparel
retail platform for powerful celebrity and consumer brands,
announced today the extension of its highly successful
collaboration with actress and style icon Eva Mendes. This
successful partnership is now in its 6th year.
The Eva Mendes collection marked the Company’s first celebrity
offering and has proven to be a key brand platform at New York
& Company – driving incremental customers to its stores,
eCommerce and brands. Eva Mendes collaborates with New York &
Company on her collection of apparel and accessories and markets
her brand across key media outlets. Eva Mendes sales approximated
$40 million in fiscal 2018 with seasonal collections delivered four
times a year, providing customers with a full array of day into
evening outfits. Based on the success of this celebrity
collaboration, RTW followed with exclusive collaborations with
Gabrielle Union and Kate Hudson. Each of these brands are exclusive
to New York & Company.
In addition to New York & Company, RTW Retailwinds’
digitally dominant multi-brand portfolio includes Fashion to Figure
and Happy x Nature, Kate Hudson’s first ready-to-wear
collection.
Commenting on the Company’s successful Eva Mendes collaboration
and the continued transformation of RTW Retailwinds, Greg Scott,
Chief Executive Officer stated: “We are excited to extend our
multi-year Eva Mendes collaboration. Eva Mendes continues to
provide a strong source of customer acquisition to our brand, and
our customers are highly engaged with her. The actress and style
icon, Eva Mendes, brings a level of interest and traffic to the
brand that differentiates our stores with unique product. The
collection has been a strong contributor to our overall growth
since it launched in September 2013 and marked our initial foray
into celebrity partnerships. These celebrity relationships provide
a strong halo to our Company, garnering substantial media
impressions year over year. Our strong cash position ($83 million
at August 3, 2019) allows us to invest in celebrity partnerships
and build our multi-brand digital platform. We look forward to our
continued partnership, as Eva Mendes has been an amazing partner to
us over the last 6 years, and we are excited about the extension of
our relationship.”
About RTW Retailwinds
RTW Retailwinds, Inc. is a specialty women’s omni-channel and
digitally enabled retailer with a powerful multi-brand lifestyle
platform providing curated lifestyle solutions that are versatile,
on-trend, and stylish at a great value. The specialty retailer,
first incorporated in 1918, has grown to now operate 411 retail and
outlet locations in 35 states while also growing a substantial
eCommerce business. The Company’s portfolio includes branded
merchandise from New York & Company, Fashion to Figure, Happy x
Nature, and collaborations with Eva Mendes, Gabrielle Union and
Kate Hudson. Its branded merchandise is sold exclusively at its
retail and outlet locations and online at www.nyandcompany.com,
www.fashiontofigure.com, www.happyxnature.com, and through its
subscription businesses at www.nyandcompanycloset.com and
www.fashiontofigurecloset.com. Additionally, certain product, press
releases and SEC filing information concerning the Company are
available at the Company's website: www.nyandcompany.com.
Forward-looking Statements
This press release contains certain forward-looking statements,
including statements made within the meaning of the safe harbor
provisions of the United States Private Securities Litigation
Reform Act of 1995. Some of these statements can be identified by
terms and phrases such as “expect,” “anticipate,” “believe,”
“intend,” “estimate,” “continue,” “could,” “may,” “plan,”
“project,” “predict,” and similar expressions and references to
assumptions that the Company believes are reasonable and relate to
its future prospects, developments and business strategies. Such
statements are subject to various risks and uncertainties that
could cause actual results to differ materially. These include, but
are not limited to: (i) the Company’s dependence on mall traffic
for its sales and the continued reduction in the volume of mall
traffic; (ii) the Company’s ability to anticipate and respond to
fashion trends; (iii) the impact of general economic conditions and
their effect on consumer confidence and spending patterns; (iv)
changes in the cost of raw materials, distribution services or
labor; (v) the potential for economic conditions to negatively
impact the Company's merchandise vendors and their ability to
deliver products; (vi) the Company’s ability to open and operate
stores successfully; (vii) seasonal fluctuations in the Company’s
business; (viii) competition in the Company’s market, including
promotional and pricing competition; (ix) the Company’s ability to
retain, recruit and train key personnel; (x) the Company’s reliance
on third parties to manage some aspects of its business; (xi) the
Company’s reliance on foreign sources of production; (xii) the
Company’s ability to protect its trademarks and other intellectual
property rights; (xiii) the Company’s ability to maintain, and its
reliance on, its information technology infrastructure; (xiv) the
effects of government regulation; (xv) the control of the Company
by its largest shareholder and any potential change of ownership of
the Company including the shares held by its largest shareholder;
and (xvi) other risks and uncertainties as described in the
Company’s documents filed with the SEC, including its most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q. The Company undertakes no obligation to revise the
forward-looking statements included in this press release to
reflect any future events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20190903005157/en/
Investors: ICR, Inc. (203) 682-8200 Investor: Allison
Malkin
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