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NEW YORK, June 5, 2008 - NexCen Brands Inc. (Nasdaq: NEXC), owner of the Waverly brand, announced today that it will expand the Waverly brand to Greece, and ultimately to The Balkans, Romania, Albania, Serbia, and Bulgaria through key partner Bed and Bath S.A.. Bed and Bath is the leading home furnishing retailer in Greece with 27 retail stores in Greece and Cyprus. Bed and Bath S.A is also servicing the private Yacht sector and the Industrial market of the Hotel & Cruise Industry. Bed and Bath S.A. will represent Waverly in sheets, pillowcases, blankets, comforters, duvet covers, shams, quilts, towels, rugs, throws, table linens, and mattresses.
"NexCen is committed to developing best-in-class resources to our portfolio of brands. Our decision to partner with Bed and Bath S.A. is a critical component to our licensing strategy and core to our mission of building value for our stakeholders," commented Robert W. D'Loren, President and CEO of NexCen Brands, Inc. D'Loren also added, "With Bed and Bath S.A. we found a partner who can deliver the level of quality, service and product that our Waverly consumers expect from our brand."
"The relationship with Bed and Bath S.A. is a key move toward the goal to expand Waverly into a more global presence. Waverly is already a highly recognizable name in the U.S. and will be welcomed by loyal consumers internationally" states Rick Platt, President of NexCen Home Studios.
"We wanted to partner with Waverly, and build a new well respected and committed business relationship that will prosper for both Waverly and Bed and Bath S.A." stated, Mr. Konstantinos Aradamis, CEO of Bed And Bath S.A.. He added "recognizing a market leader with such a high standard and reputation such as Waverly, made it logical to choose this brand to compliment our product line."
About Waverly (www.waverly.com)
Launched in 1923, Waverly is a premier home fashion and all encompassing lifestyle brand and one of the most recognized names in home furnishings. Its signature look is expertly translated into countless classic styles among home furnishing products including fabrics, wall coverings, paint, bedding, window treatments, decorative accessories and other key products. Waverly is available through retailers and interior design showrooms in over 12,000 doors nationwide. Its family of brands consists of Waverly, Waverly Home, Waverly Home Classics, Waverly Baby, and Waverly Sun N Shade. Key vendor partners include PK Lifestyles, Welspun USA, Blue Mountain, Ellery Homestyles, Axis Imex Inc., C.R. Gibson, The McCall Pattern Company, Lowes and Target. NexCen purchased the Waverly brand in May 2007.
About Bed and Bath S.A. (www.bedandbath.gr)
Bed and Bath S.A. is a well known presence in the Greek linen market for its exceptional quality of products. The company has experienced steady growth and has become an unchallenged and recognizable force in the Greek linen market. Through strategic choices and investing decisions Bed&Bath S.A. has achieved exclusive collaborations with well known and reliable brands such as CANNON, FIELDCREST, JOUTSEN, TRUSSARDI HOME, MISSONI HOME, King Koil etc. The company's philosophy is to offer a variety of stylish choices, quality, price and branded products to the customers for all of their home linen needs.
About NexCen Brands (www.nexcenbrands.com)
NexCen acquires and manages global brands, generating revenue through licensing and franchising. We currently own and license the Bill Blass and Waverly brands, as well as seven franchised brands. Two franchised brands - The Athlete's Foot and Shoebox New York - sell retail footwear and accessories. Five are quick-service restaurants - Marble Slab Creamery, MaggieMoo's, Pretzel Time, Pretzelmaker, and Great American Cookies.
The Company licenses and franchises its brands to a network of leading retailers, manufacturers and franchisees that includes every major segment of retail distribution from the luxury market to the mass market in the U.S. and in over 50 countries around the world, and consists of approximately 1,900 franchised stores. NexCen, through its information technology, franchisee support systems and advertising, marketing and public relations team, markets its brands to continually drive greater consumer awareness and brand equity for each of its brands. NexCen touches nearly every aspect of a consumer's lifestyle from the food they eat to the furnishings in their homes and the clothes and footwear they purchase.
Media Contact:
Liz Mandracchia
Waverly
212-448-8031 (O)
347-281-3250 (M)
lmandracchia@waverly.com
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