Phillips-Van Heusen Corporation and USA Legwear LLC, a division of Basic Resources Inc., have entered into a licensing agreement under which USA Legwear will market and distribute men's and boys' hosiery under PVH's Van Heusen brand. The initial term of the licensing agreement runs through 2014 and provides for a renewal at PVH's option.

The new Van Heusen hosiery line will include men's and boys' dress, casual and athletic socks. The hosiery line will be distributed at major department stores and specialty stores throughout the United States. The product line will incorporate Van Heusen branding, and will include single and multi-pack options.

"As we continued to seek ways to grow the Van Heusen product line, we naturally came upon hosiery as a great fit with our own underwear and dress furnishings offerings," said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. "Basic Resources has extensive knowledge and experience in this product category and we look forward to having them on the Van Heusen licensee team to develop and grow this business in a profitable and effective manner."

Salomon Harari, President of Basic Resources Inc., added, "We are excited about our partnership with PVH and to facilitate the natural extension of the Van Heusen brand into men's and boy's hosiery. The Van Heusen brand complements our brand portfolio beautifully and gives us a platform to reach out to new and diverse end consumers."

Phillips-Van Heusen Corporation, one of the world's largest apparel companies, owns and markets the Calvin Klein and Tommy Hilfiger brands worldwide. It is said to be the world's largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Trump, JOE Joseph Abboud, DKNY and Timberland.

Basic Resources Inc. established in 1993 - manufactures, markets and distributes men's and women's branded and private label underwear, loungewear and hosiery. Its licensed brands include: Reebok, Protégé, US Polo Assn., Sean John, Body Glove, and Van Heusen.