Nautica Enterprises, Inc. Announces Two Senior Promotions At Earl Jean, Inc; Earl Jean Store Opens On Schedule In Soho, New York

Business Wire, Oct 29, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 29, 2001

Nautica Enterprises, Inc. (NASDAQ: NAUT) today announced two promotions at Earl Jean, Inc., a wholly-owned subsidiary of the Company acquired in April 2001, as well as the opening of an Earl Jean retail store in Soho.

Joe Krafka has been promoted to President of Earl Jean, Inc. Joe joined Earl Jean three years ago as Chief Operating Officer and Sales Director and most recently held the position of Vice President of Sales. Joe will oversee all global operations of Earl Jean and report to Harvey Sanders, Chairman, President and Chief Executive of Nautica Enterprises, Inc.

Prior to joining Earl Jean in 1998, Joe was Vice President and General Manager of the "GENE" division at Mossimo, Inc. (Nasdaq: MGX) where he spent 10 years. Joe replaces Benjamin Freiwald who has decided to pursue other interests.

Bonnie Takhar has been promoted to Managing Director of Earl Jean Europe, a newly-created position, and will report to Joe Krafka. She previously held the title of Vice President of Sales of Earl Jean Europe. In her new role, Bonnie will be responsible for overseeing the growth and expansion of the Earl Jean brand in key European markets and will focus on developing new and existing specialty retail accounts. Approximately one-half of Earl Jean products are sold internationally.

Prior to joining Earl Jean in 1999, Bonnie held the title of Sales Director at the Nicole Farhi Group from 1998 to 1999, and before that, was a sales manager at Donna Karan International Inc. (Nasdaq: DK) from 1996 to 1998.

Mr. Harvey Sanders, commented, "It is with great pleasure that I announce these well-deserved promotions. Both Joe and Bonnie, and their respective teams, have been instrumental in the growth and development of the Earl Jean brand both domestically and internationally, and we look forward to their continued contributions. Earl Jean has commanded tremendous brand name recognition since its founding in 1996. It is now poised to capitalize on new opportunities and, with its management team, drive the business into the future."

The Company also announced the opening of the first free-standing Earl Jean retail store in New York City. The store is located in the heart of Soho on Mercer Street and showcases Earl Jean's expanded product offerings and line extensions. Specifically, a wide array of footwear and accessories, including belts and handbags will be offered, as well as additional sportswear classifications in wovens and knits to balance out the product portfolio. Earl Jean also operates a retail store in Los Angeles.

Mr. Sanders concluded, "We are thrilled to announce this new store opening in New York, giving the Earl Jean brand a presence on both coasts."

Nautica Enterprises, Inc. (NASDAQ: NAUT), through its subsidiaries, designs, sources, markets and distributes apparel under the following brands: Nautica; Nautica Competition; Nautica Jeans Company; John Varvatos; Earl Jean; E. Magrath; and Byron Nelson.

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on the Company's current expectations of future events and are subject to a number of risks and uncertainties that may cause the Company's actual results to differ materially from those described in the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These factors and uncertainties include, among others: the risk that new businesses of the Company will not be integrated successfully; the overall level of consumer spending on apparel; dependence on sales to a limited number of large department store customers; risks related to extending credit to customers; actions of existing or new competitors and changes in economic or political conditions in the markets where the Company sells or sources its products; risks associated with consolidations, restructurings and other ownership changes in the retail industry; changes in trends in the market segments in which the Company competes; risks associated with uncertainty relating to the Company's ability to launch, support and implement new product lines in the United States and Europe; effects of competition; changes in the costs of raw materials, labor and advertising; and, the ability to secure and protect trademarks and other intellectual property rights. These and other risks and uncertainties are disclosed from time to time in the Company's filings with the Securities and Exchange Commission, including the "Forward-Looking and Cautionary Statements" section of the Company's Annual Report on Form 10-K for the fiscal year ended March 3, 2001, in the Company's press releases and in oral statements made by or with the approval of authorized personnel. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.