Exhibit 99.1
TM |
FOR IMMEDIATE RELEASE | Contact: |
Cindy Knoebel VP, Financial & Corporate Communications VF Services, Inc. (336) 424-6189/(646) 472-2817 |
ANTITRUST WAITING
PERIOD FOR PURCHASE BY VF CORPORATION OF
RIGHTS FROM DAVID CHU AND COMPANY, INC. EXPIRES
Greensboro, NC (August 22, 2003) VF Corporation (NYSE: VFC), the worlds largest apparel company, announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the previously announced purchase by VF of David Chu and Company, Inc.s rights to receive 50% of the net royalty income from licensing the Nautica trademark expired at 11:59 p.m. on August 21, 2003.
VF anticipates completing the purchase of rights from David Chu and Company, Inc. and the previously announced merger between Nautica Enterprises, Inc. and a wholly-owned subsidiary of VF on August 27, 2003 or shortly thereafter.
About the Company
VF Corporation is the worlds largest apparel company and a leader in jeanswear, intimate apparel,
playwear, workwear and daypacks. Its principal brands include
Lee®, Wrangler®,
Riders®, Rustler®,
Vanity Fair®,
Vassarette®, Bestform®,
Lily of France®, Lee Sport®,
Healthtex®, JanSport®,
Eastpak®, Red Kap® and
The North Face®.
VF Corporations press releases, annual report and other information can be accessed through the companys home page, http://www.vfc.com.