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Related Party Transactions
12 Months Ended
Dec. 31, 2011
Related Party Transactions

10.  Related Party Transactions

 

The Candie’s Foundation

 

The Candie's Foundation, a charitable foundation founded by Neil Cole for the purpose of raising national awareness about the consequences of teenage pregnancy, owed the Company $0.7 million and $0.9 million at December 31, 2011 and December 31, 2010, respectively.  The Candie's Foundation intends to pay-off the entire borrowing from the Company during 2012, although additional advances will be made as and when necessary.

 

Travel

 

The Company recorded expenses of approximately $114, $116, and $326 for FY 2011, FY 2010 and FY 2009, respectively, for the hire and use of aircraft solely for business purposes owned by a company in which the Company’s chairman, chief executive officer and president is the sole owner.  Management believes that all transactions were made on terms and conditions no less favorable than those available in the marketplace from unrelated parties.