FOR IMMEDIATE RELEASE
                                                 January 25, 1995




From:          PHILLIPS-VAN HEUSEN CORPORATION
               1290 Avenue of the Americas
               New York, New York  10104

Contact:       Irwin W. Winter
               Vice President & Chief Financial Officer
               (212) 468-7025



PHILLIPS-VAN HEUSEN TO ACQUIRE CRYSTAL BRANDS APPAREL GROUP; 
   $114.7 MILLION CASH FOR BRANDS INCLUDING IZOD AND GANT   



Phillips-Van Heusen Corporation (NYSE:PVH) announced today that is
has agreed to acquire the Apparel Group of Crystal Brands, Inc. for
$114.7 million in cash subject to certain adjustments.  With the
acquisition, PVH will add Gant, Izod and Salty Dog to its roster of
famous brands, three of which hold number one market share
positions in the United States:  Van Heusen dress shirts, G.H. Bass
men's and women's casual shoes, and Geoffrey Beene designer shirts.

Crystal Brands has operated under Chapter 11 of the Federal
Bankruptcy Code since January 1994, and the acquisition must
receive approval from a Federal Bankruptcy Court.  Commenting on
the deal, PVH Chairman and Chief Executive Officer Bruce Klatsky
said, "The addition of Gant and Izod will accelerate our
increasingly important position in sportswear, taking advantage of
key synergies in sourcing, distribution, management and marketing. 
Shareholders in our company will enjoy the direct benefits of
increased sales and earnings from this acquisition, which is
expected to be non-dilutive."



Press Release
January 25, 1995
Cyrstal Brands


Izod and Gant are among the most recognized and established
sportswear brands.  Izod, Gant and Salty Dog branded products range
from men's casual shirts and sportswear to golf and tennis apparel
and are sold at major department stores including Dillard's, Belk's
and Macy's.  The acquisition will substantially increase
sportswear's share of PVH's overall sales.

"Our company has thrived for 115 years based on the utmost
attention to quality and value, belief in brands, and
responsiveness to lifestyle trends.  This acquisition and the
products and opportunities it will bring us epitomize those same
ideals on which our entire philosophy is based," Klatsky said.

PVH is one of the world's largest apparel and footwear companies. 
Its brands include Van Heusen, the number one selling men's dress
shirt in America, Geoffrey Beene, the number one selling designer
dress shirt, and G.H. Bass, the number one selling men's and
women's casual shoes.  PVH is also the leading marketer of private
label shirts and sweaters in the United States.  Company sales in
1993 were $1.152 billion.