Innovo Group Inc. and Candie's, Inc. Announce Bongo License Agreement

Apr 02, 2001, 01:00 ET from Innovo Group Inc.

    KNOXVILLE, Tenn. and VALHALLA, N.Y., April 2 /PRNewswire/ --
     Innovo Group Inc. (Nasdaq: INNO) ("Innovo") and
 Candie's, Inc. (Nasdaq: CAND) ("Candie's") announced that they have signed an
 exclusive license agreement granting Innovo the right to design, manufacture
 and distribute bags, belts and small leather/pvc goods under the Bongo label.
 Innovo's sales and marketing of the product line, which will be offered to
 better department and specialty stores, will commence immediately.
     Pat Anderson, Chief Executive Officer of Innovo, commented, "Bongo is a
 powerful brand in the junior market.  By adding the brand to our accessories
 business, we expect to capitalize on Innovo's existing customer base as well
 as the retail relationships that have fueled the impressive sales growth of
 the Bongo apparel division.  We are confident that our experience in designing
 and sourcing innovative, fashionable bags at competitive prices will create
 strong demand for the new lines at the retail level and further our growth
 strategy."
     Also commenting on the announcement, Neil Cole, Chairman and Chief
 Executive Officer of Candies, stated, "We are pleased to have a company with
 Innovo's extensive experience in the accessory category as a licensee of
 Bongo.  The Innovo license is a great strategic relationship that we believe
 will allow us to capitalize on the value of the Bongo brand and further
 Candies' growth through increased licensing revenue."
 
     About Innovo Group Inc.
 
     Innovo Group Inc. through its subsidiaries Innovo Inc. and Joe's Jeans, is
 a sales and marketing organization designing and selling craft, accessory and
 apparel products to the retail and premium markets.  The Company's craft
 products include canvas and denim totebags and aprons.  The Company's
 accessory product line is comprised of such products as licensed and non-
 licensed backpacks, totebags, waist packs and handbags.  The Company's apparel
 products consist of women's high-end denim jeans and knit shirts featuring the
 Joe's brand.  For more information, visit the company web site at
 www.innovogroup.com.
 
     About Candie's, Inc.
     Candie's Inc. is a leading designer and marketer of young women's
 footwear, apparel and accessories.  The Company distributes its products
 through better department and specialty stores nationwide, as well as through
 ten company-owned stores and specialty stores internationally.  Candie's also
 owns and markets footwear, accessories and apparel under the Bongo trademark.
 Candie's also arranges for the manufacture of footwear products for mass
 market and discount retailers under the private label brand of the retailer or
 other trademarks owned or licensed by Candie's.  Additionally, the Candie's
 brand is licensed for the manufacture, sale and distribution of fragrances and
 cosmetics, handbags, sunglasses, watches and apparel.  Candie's Inc. operates
 www.candies.com, a leading community for teens on the web.  For investor
 information please visit the corporate web site at www.candiesinc.com.
 
     SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
 OF 1995.  The statements which are not historical facts contained in this
 press release are forward looking statements that involve a number of known
 and unknown risks, uncertainties and other factors all of which are difficult
 or impossible to predict and many of which are beyond the control of the
 Company, which may cause the actual results, performance or achievements of
 the Company to be materially different from any future results, performance or
 achievements expressed or implied by such forward looking statements.  Such
 factors include, but are not limited to, uncertainty regarding continued
 market acceptance of current products and the ability to successfully and
 market new products particularly in light of rapidly changing fashion trends,
 the impact of supply and manufacturing constraints or difficulties relating to
 the Company's dependence on foreign manufacturers, uncertainties relating to
 customer plans and commitments, competition, uncertainties relating to
 economic conditions in the markets in which the Company operates, the ability
 to hire and retain key personnel, the ability to obtain capital, the risks of
 regulatory proceedings and litigation, the risks of trademark protection, the
 uncertainty of marketing and licensing acquired trademarks, other risks
 detailed in the Company's Securities and Exchange Commission filings, and
 uncertainty associated with the impact on the Company in relation to recent
 events discussed in the Company's Form 10-K for Fiscal 2000.  The words
 "believe", "expect", "anticipate", "seek" and similar expressions identify
 forward-looking statements.  Readers are cautioned not to place undue reliance
 on these forward looking statements, which speak only as of the date the
 statement was made.
 
 

SOURCE Innovo Group Inc.
    KNOXVILLE, Tenn. and VALHALLA, N.Y., April 2 /PRNewswire/ --
     Innovo Group Inc. (Nasdaq: INNO) ("Innovo") and
 Candie's, Inc. (Nasdaq: CAND) ("Candie's") announced that they have signed an
 exclusive license agreement granting Innovo the right to design, manufacture
 and distribute bags, belts and small leather/pvc goods under the Bongo label.
 Innovo's sales and marketing of the product line, which will be offered to
 better department and specialty stores, will commence immediately.
     Pat Anderson, Chief Executive Officer of Innovo, commented, "Bongo is a
 powerful brand in the junior market.  By adding the brand to our accessories
 business, we expect to capitalize on Innovo's existing customer base as well
 as the retail relationships that have fueled the impressive sales growth of
 the Bongo apparel division.  We are confident that our experience in designing
 and sourcing innovative, fashionable bags at competitive prices will create
 strong demand for the new lines at the retail level and further our growth
 strategy."
     Also commenting on the announcement, Neil Cole, Chairman and Chief
 Executive Officer of Candies, stated, "We are pleased to have a company with
 Innovo's extensive experience in the accessory category as a licensee of
 Bongo.  The Innovo license is a great strategic relationship that we believe
 will allow us to capitalize on the value of the Bongo brand and further
 Candies' growth through increased licensing revenue."
 
     About Innovo Group Inc.
 
     Innovo Group Inc. through its subsidiaries Innovo Inc. and Joe's Jeans, is
 a sales and marketing organization designing and selling craft, accessory and
 apparel products to the retail and premium markets.  The Company's craft
 products include canvas and denim totebags and aprons.  The Company's
 accessory product line is comprised of such products as licensed and non-
 licensed backpacks, totebags, waist packs and handbags.  The Company's apparel
 products consist of women's high-end denim jeans and knit shirts featuring the
 Joe's brand.  For more information, visit the company web site at
 www.innovogroup.com.
 
     About Candie's, Inc.
     Candie's Inc. is a leading designer and marketer of young women's
 footwear, apparel and accessories.  The Company distributes its products
 through better department and specialty stores nationwide, as well as through
 ten company-owned stores and specialty stores internationally.  Candie's also
 owns and markets footwear, accessories and apparel under the Bongo trademark.
 Candie's also arranges for the manufacture of footwear products for mass
 market and discount retailers under the private label brand of the retailer or
 other trademarks owned or licensed by Candie's.  Additionally, the Candie's
 brand is licensed for the manufacture, sale and distribution of fragrances and
 cosmetics, handbags, sunglasses, watches and apparel.  Candie's Inc. operates
 www.candies.com, a leading community for teens on the web.  For investor
 information please visit the corporate web site at www.candiesinc.com.
 
     SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
 OF 1995.  The statements which are not historical facts contained in this
 press release are forward looking statements that involve a number of known
 and unknown risks, uncertainties and other factors all of which are difficult
 or impossible to predict and many of which are beyond the control of the
 Company, which may cause the actual results, performance or achievements of
 the Company to be materially different from any future results, performance or
 achievements expressed or implied by such forward looking statements.  Such
 factors include, but are not limited to, uncertainty regarding continued
 market acceptance of current products and the ability to successfully and
 market new products particularly in light of rapidly changing fashion trends,
 the impact of supply and manufacturing constraints or difficulties relating to
 the Company's dependence on foreign manufacturers, uncertainties relating to
 customer plans and commitments, competition, uncertainties relating to
 economic conditions in the markets in which the Company operates, the ability
 to hire and retain key personnel, the ability to obtain capital, the risks of
 regulatory proceedings and litigation, the risks of trademark protection, the
 uncertainty of marketing and licensing acquired trademarks, other risks
 detailed in the Company's Securities and Exchange Commission filings, and
 uncertainty associated with the impact on the Company in relation to recent
 events discussed in the Company's Form 10-K for Fiscal 2000.  The words
 "believe", "expect", "anticipate", "seek" and similar expressions identify
 forward-looking statements.  Readers are cautioned not to place undue reliance
 on these forward looking statements, which speak only as of the date the
 statement was made.
 
 SOURCE  Innovo Group Inc.