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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): July 20, 1999
KENNETH COLE PRODUCTIONS, INC.
(Exact name of registrant as specified in its charter)
New York 1-13082 13-3131650
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
152 West 57th Street, New York 10019
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 265-1500
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Item 5: Other Event
[After the close of business] On July 20, 1999, Kenneth
Cole Productions, Inc., (the "Company") and Liz Claiborne
entered into a major multi-brand initiative to launch Kenneth
Cole Productions, Inc. into the women's apparel market under an
exclusive women's wear license. In addition, Liz Claiborne
agreed with the Company to purchase one million shares of
Kenneth Cole Productions, Inc. Class A Common Stock, par value
$.01 per share, at a price of $29 per share. Consummation of
the transaction is subject to review under the provisions of
the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended, and other customary closing conditions and is expected
to close in the third quarter of 1999.
Reference is made to the Company's news release, dated
July 21, 1999, attached as an Exhibit hereto and incorporated
herein by reference.
Item 7: Financial Statements and Exhibits.
(c) Exhibits:
99.1: News Release of Kenneth Cole Productions, Inc.,
dated July 21, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this Current Report to be
signed on its behalf by the undersigned hereunto duly
authorized.
Kenneth Cole Productions, Inc.
Registrant
July 29, 1999 STANLEY A MAYER
By: STANLEY A. MAYER
Title: EXECUTIVE VICE PRESDIENT AND CFO
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EXHIBIT INDEX
Sequentially
Exhibit No. Description Numbered Page
99.1 News Release of Kenneth Cole Productions, Inc. 5
dated July 21, 1999
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Exhibit 99.01
LIZ CLAIBORNE, INC. KENNETH COLE PRODUCTIONS, INC.
Investor Contact: Investor Contact:
Robert J. Vill Stanley Mayer
Vice President - Treasury and Executive Vice President,
Investor Relations Chief Financial Officer
201.295.7515 201-864-8080
Media Contact: Media Contact:
Jane Randol Shelly Driscoll Kristin Hoppman
Director, Corporate Communication Kratz & Jansen Kenneth Cole
212.626.3408 212.979.2700 212.830.7406
LIZ CLAIBORNE AND KENNETH COLE PRODUCTIONS
FORM A STRATEGIC ALLIANCE
TO LAUNCH KENNETH COLE WOMEN'S WEAR
New York, NY July 21, 1999 - Liz Claiborne Inc. (NYSE-LIZ)
and Kenneth Cole Productions, Inc. (NYSE -KCP) announced today
they have entered into a major multi-brand initiative to launch
Kenneth Cole Productions into the women's apparel market under
an exclusive women's wear license. At the same time, the
companies announced Liz Claiborne's agreement to purchase one
million shares of Kenneth Cole Productions Class A stock at a
price of $.29 per share. Consummation of the transaction is
subject to review under the provisions of the Hart-Scott-Rodino
Act and other customary closing conditions and is expected to
close in the third quarter of 1999.
This agreement combines Kenneth Cole's design vision and
marketing philosophy with Liz Claiborne's apparel industry
expertise. Under the agreement, Liz Claiborne will produce
Kenneth Cole New York collection of women's contemporary
sportswear for the Fall 2000 season. It will be supported by
the type of advertising for which Kenneth Cole is known for but
in a far more expansive campaign. It will be followed by the
launch of a junior line under the Kenneth Cole Unlisted brand
name in Spring 2001 and the launch of a women's status and
denim sportswear line under the Reaction Kenneth Cole brand
name for the Fall 2001 season.
Paul A. Charron, Chairman and Chief Executive Officer of
Liz Claiborne, stated: "We are pleased to enter into this
strategic alliance which combines the rapidly emerging strength
of the Kenneth Cole brand franchise with Liz Claiborne's proven
ability to develop, nurture and maximize brands. Kenneth Cole
is one of the most talented designers and marketers in the
industry and he's building what we believe will be the next
mega brand. The significant equity investment we have announced
reflects our confidence in this strategic alliance. We look
forward to working with Kenneth and his team to help Kenneth
Cole Productions brands reach their maximum potential."
Kenneth Cole, President and Chief Executive Officer of
Kenneth Cole Productions, stated: "It's always been my dream to
have genuine lifestyle brand that appeals to both genders and
truly addresses their needs. It's very important that we
continue to appeal to the contemporary customer with well-
styled clothes at reasonable prices. We're excited to be
involved with Liz Claiborne, the country's premier apparel
company. Liz Claiborne has unparalleled, worldwide
manufacturing and sourcing capabilities, along with the
infrastructure and administration necessary to support and
undertaking of this size. It's an alliance that helps us to
reach the broadest audience possible while maintaining the
brands' unique identities".
Kenneth Cole Productions, Inc. designs and markets a broad
range of premium-quality men's and women's footwear and
accessories, under the Kenneth Cole Collection, Reaction and
Unlisted labels, as well as over 30 products under license.
Kenneth Cole men's tailored clothing line was introduced in
Fall 1997, followed by the introduction of men's sportswear in
February 1998 and men's loungewear debuted in Spring 1999. The
products are sold through over 50 Kenneth Cole retail stores in
the United States, Kenneth Cole stores in Amsterdam, Hong Kong,
Singapore and Taiwan, Kenneth Cole catalogs, department an
specialty stores, and on the Kenneth Cole website.
Liz Claiborne Inc. designs and markets an extensive range
of women's and men's fashion apparel and accessories
appropriate to wearing occasions ranging from casual to dressy.
The Company also markets fragrances for women and men. Liz
Claiborne Inc.'s brands include Claiborne, Crazy Horse, Dana
Buchman, Elisabeth, Emma Jones, First Issue, Liz Claiborne,
Lucky Brands, Russ, Sigrid Olsen and Villager. In addition, Liz
Claiborne holds the exclusive, long-term license to source,
market and sell men's and women's DKNY Jeans and DKNY Active
Collections in the Western Hemisphere.
Statements herein that relate to Liz Claiborne's and
Kenneth Cole Productions' future performance are forward-
looking statements within the safe harbor of provisions of the
Private Securities Litigation Reform Act of 1995, as a number
of factors affecting Liz Claiborne's and Kenneth Cole
Productions' business and operations could cause actual results
to differ materially from those contemplated. These factors
include retailer and consumer acceptance of Liz Claiborne's and
Kenneth Cole productions' products, the overall level of
consumer spending and prevailing retail environment, as well as
such other factors as are set forth in Liz Claiborne's and
Kenneth Cole Productions 1998 Annual Report on Form 10-K,
including, without limitation, those set forth under the
caption "Business Competition; Certain Risks".
