Here's an excerpt from MW's annual report: In 1995, the Company entered into license agreements with a limited number of parties under which the Company is entitled to use designer labels, such as "Pierre Balmain" and "Vito Rufolo", and nationally recognized brand labels such as "Botany" and "Botany 500", in return for royalties paid to the licensor based on the costs of the relevant product. These license agreements generally limit the use of the individual label to products of a specific nature (such as men's suits, men's formal wear or men's shirts). The labels licensed under these agreements will continue to be used in connection with a portion of the purchases under the direct sourcing program described above, as well as purchases from other vendors. During 1996, the Company purchased several trademarks from Hugo Boss. These marks include "Cricketeer," "Joseph & Feiss International," "Baracuda," and "Country Britches," among others, and will be used similarly to the Company's licensed labels. The Company monitors the performance of these licensed labels compared to their cost and may elect to selectively terminate any license. Because of the continued consolidation in the men's tailored clothing industry, the Company may be presented with opportunities to acquire or license other designer or nationally recognized brand labels.