SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 16, 1999
KASPER A.S.L., LTD.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-24179 22-3497645
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(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)
77 Metro Way
Secaucus, New Jersey 07094
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(Address of Principal Executive Offices) (Zip Code)
(Registrant's telephone number, including area code): (201) 864-0328
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Item 5. Other Events.
On March 16, 1999, Kasper A.S.L., Ltd. (the "Company") issued a
joint press release with Anne Klein Company LLC ("Anne Klein") announcing, among
other things, that the Company and Anne Klein signed a definitive agreement for
the Company to purchase Anne Klein's trademarks and selected related assets (the
"Purchase Transaction"). The Company and Anne Klein also jointly announced the
signing of a licensing agreement under which Anne Klein granted to the Company
an exclusive, international license for ANNE KLEIN(R) women's and girl's
sportswear, suits and dresses under the ANNE KLEIN(R), ANNE KLEIN II(R) and A
LINE ANNE KLEIN(TM) trademarks. Completion of the Purchase Transaction and the
licensing agreement are subject to obtaining certain required regulatory and
other consents and approvals. Completion of the Purchase Transaction is also
subject to attaining financing for the trademark acquisition. The press release,
which is incorporated by reference herein and made a part hereof, is filed with
this Current Report on Form 8-K as Exhibit 99.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
Exhibit No. Description
99 Press Release dated March 15, 1999.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 17, 1999 KASPER A.S.L., LTD.
By: /s/ Dennis P. Kelly
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Dennis Kelly, Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99 Press Release dated March 15, 1999.
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NEWS RELEASE
For: Kasper A.S.L., Ltd. and Anne Klein Company LLC
Contact: Mary Ann Domuracki
Kasper A.S.L., Ltd.
Executive Vice President -
Finance and Administration
(201) 864-0328
Laura Wenke
Anne Klein Company LLC
(212) 852-5802
Christine DiSanto/Caroline Eustace/
For Immediate Release Bernadette Maglione
- --------------------- Lauren Gargano - Media
Morgen-Walke Associates
(212) 850-5600
KASPER A.S.L., LTD. AND ANNE KLEIN COMPANY LLC
ENTER INTO EXCLUSIVE AGREEMENTS
-- Kasper to Purchase ANNE KLEIN(R) Trademarks -- --
Kasper and Anne Klein Also Agree to a Licensing Agreement --
Secaucus, NJ, and New York, NY, March 16, 1999 - Kasper A.S.L., Ltd.
(Nasdaq:KASP) and Anne Klein Company LLC jointly announced today that they
signed a definitive agreement for Kasper to purchase Anne Klein's trademarks and
selected related assets (the "Purchase Transaction"). The Purchase Transaction
should provide Kasper with the strategic opportunity to expand its business with
a high quality brand through a combination of strong licensed products and
apparel categories such as sportswear and casual career apparel.
Kasper A.S.L., Ltd. and Anne Klein Company LLC also signed a licensing
agreement under which Anne Klein Company LLC granted an exclusive, international
license to Kasper for ANNE KLEIN(R) women's and girls' sportswear, suits and
dresses under the ANNE KLEIN(R), ANNE KLEIN II(R) and A LINE ANNE KLEIN(TM)
trademarks. The license agreement would end upon completion of the Purchase
Transaction.
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The apparel collections will include the ANNE KLEIN(R) and A LINE ANNE
KLEIN(TM) bridge collections beginning with Resort 1999, and are expected to
include a suit line and a better sportswear collection beginning in Fall 2000.
Anne Klein Company LLC will continue to design, manufacture, sell and ship the
Fall 1999 ANNE KLEIN(R) and A LINE ANNE KLEIN(TM) bridge collections.
Completion of the Purchase Transaction and the licensing agreement are
subject to obtaining certain required regulatory and other consents and
approvals. Completion of the Purchase Transaction is also subject to attaining
financing for the trademark acquisition.
Commenting on the agreement, Arthur S. Levine, Chairman and Chief
Executive Officer of Kasper, stated, "We are excited about the tremendous
opportunity to further develop a high quality label such as Anne Klein. Through
its 31-year operating history, Anne Klein has built a powerful brand name with a
loyal consumer following both domestically and internationally. Importantly, our
companies complement each other in many ways. Specifically, Anne Klein has
strong design and marketing capabilities, and this, coupled with Kasper's high
quality, efficient production operations and substantial distribution
capabilities, should bode well for Kasper's successful launch of the various
ANNE KLEIN(R) collections at retail."
Frank R. Mori, President of Takihyo, Anne Klein's parent company,
noted, "We are very excited about these transactions with Kasper and Arthur
Levine. While Anne Klein will continue its important position in the Bridge
category, it will have a broader penetration into the larger Better market
resulting in a stronger Anne Klein brand franchise. In addition, this broader
penetration will provide a valuable platform for growth of our outstanding
licensees."
Kasper A.S.L., Ltd is a leading manufacturer of women's suits, as well
as career sportswear and dresses. The Company's product lines are sold in over
2,000 retail locations throughout the United States, Europe and Canada, and in
Kasper's 57 retail outlet stores. The Company currently distributes its products
under the Kasper for A.S.L.(R), LeSuit(TM), Albert Nipon(R), b. bennett(TM),
Kasper and Company(R) and Kasper Dress(R) labels. The Company also licenses its
Kasper(R) and Albert Nipon(R) labels for various men's and women's products.
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Page 3
For more than thirty years, ANNE KLEIN(R) has meant classic American
sportswear and a broad range of accessories designed with special attention to
the needs of modern women. Anne Klein products are sold in the finest department
stores and specialty stores throughout the world by the Company and its
licensees.
This press release may contain forward-looking statements that are being made
under applicable federal securities laws. Such forward-looking statements are
not guarantees of future performance and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from those
anticipated, expressed or implied.
