Business Services Industry
Perry Ellis Aims to Make Splash with Speedo.
Knight Ridder/Tribune Business News, May, 2002
By Barbara Powell, South Florida Sun-Sentinel Knight Ridder/Tribune Business News
May 17--Perry Ellis International hopes to make a big splash in the swimwear industry after adding its third swimwear line since March and says it's ready to take on troubled industry leader Speedo.
Miami-based Perry Ellis announced yesterday it has signed a licensing agreement with Nike Inc. to make, market and distribute swimsuits and accessories under the Nike brand starting next month. Terms of the deal, which makes Perry Ellis the exclusive licensee for the Nike Swim line for the U.S. market, were not disclosed.
The market reacted favorably to the deal, and shares of Perry Ellis reached a 52-week high of $14.49 during intraday trading on Thursday. Shares...
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