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1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 Nitches, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, no par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 65476M109 --------------------------------------------- (CUSIP Number) March 14, 2001 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosure provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended ("Act"), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 9 pages 2 CUSIP NO. 65476M109 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON American International Group, Inc. I.R.S. Identification No. 13-2592361 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Incorporated under the laws of the State of Delaware - -------------------------------------------------------------------------------- 5. SOLE VOTING POWER NUMBER OF 0 SHARES -------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 74,500 EACH -------------------------------------------------- REPORTING 7. SOLE DISPOSITIVE POWER PERSON 0 WITH -------------------------------------------------- 8. SHARED DISPOSITIVE POWER 74,500 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 74,500 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.00% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON HC - -------------------------------------------------------------------------------- Page 2 of 9 3 CUSIP NO. 65476M109 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON American Home Assurance Company I.R.S. Identification No. 13-5124990 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Organized under the laws of the State of New York - -------------------------------------------------------------------------------- 5. SOLE VOTING POWER NUMBER OF 0 SHARES -------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 59,200 EACH -------------------------------------------------- REPORTING 7. SOLE DISPOSITIVE POWER PERSON 0 WITH -------------------------------------------------- 8. SHARED DISPOSITIVE POWER 59,200 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 59,200 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.56% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IC - -------------------------------------------------------------------------------- Page 3 of 9 4 ITEM 1 (a). NAME OF ISSUER: Nitches, Inc. ITEM 1 (b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 10280 Camino Santa Fe San Diego, CA 92121 ITEM 2 (a). NAME OF PERSON(S) FILING: American International Group, Inc. American Home Assurance Company ITEM 2 (b). ADDRESS OF PRINCIPAL BUSINESS OFFICE(S): American International Group, Inc. 70 Pine Street New York, New York 10270 American Home Assurance Company 70 Pine Street New York, New York 10270 ITEM 2 (c). CITIZENSHIP: The information requested hereunder is set forth under Item 4 of the cover pages to this Schedule 13G. ITEM 2 (d). TITLE OF CLASS OF SECURITIES: Common Stock, no par value ITEM 2 (e). CUSIP NUMBER: 65476M109 Page 4 of 9 5 ITEM 3. TYPE OF PERSONS FILING: American International Group, Inc.: (g) Parent Holding Company or Control Person, in accordance with Rule 13d-1(b)(1)(ii) (G) promulgated under the Securities Exchange Act of 1934, as amended (the "Act") American Home Assurance Company: (c) Insurance Company, in accordance with Rule 13d-1(b)(1)(ii)(C) promulgated under the Act ITEM 4. OWNERSHIP. The information requested hereunder is set forth under Items 5 through 9 and Item 11 of the cover pages to this Schedule 13G. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF CLASS. Not applicable. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. See Exhibit 1 attached hereto for the information requested hereunder with respect to the relevant subsidiary of American International Group, Inc. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not applicable. Page 5 of 9 6 ITEM 10. CERTIFICATION. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: May 7, 2001 AMERICAN INTERNATIONAL GROUP, INC. By /s/ Kathleen E. Shannon ------------------------------------ Name: Kathleen E. Shannon Title: Vice President and Secretary AMERICAN HOME ASSURANCE COMPANY By /s/ Edward E. Matthews ------------------------------------ Name: Edward E. Matthews Title: Senior Vice President Page 6 of 9 7 EXHIBIT INDEX Exhibit 1 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company Exhibit 2 Agreement of Joint Filing Page 7 of 9
1 Exhibit 1 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. American International Group, Inc. -- Subsidiary Information American Home Assurance Company Insurance Company pursuant to Rule 13d-1(b)(1)(ii)(C) Category Symbol: IC Page 8 of 9
1 Exhibit 2 AGREEMENT OF JOINT FILING In accordance with Rule 13d-1(f), promulgated under the Securities Exchange Act of 1934, as amended, each of the undersigned hereby agrees to the joint filing on behalf of each of them of a Statement on Schedule 13G, and any amendments thereto, with respect to the Common Stock, no par value, of Nitches, Inc. and that this Agreement may be included as an Exhibit to such filing. Each of the undersigned parties represents and warrants to the other that the information contained in any amendment thereto about it will be, true, correct and complete in all material respects and in accordance with all applicable laws. Each of the undersigned parties agrees to inform the other of any changes in such information or of any additional information which would require any amendment to the Schedule 13G and to promptly file such amendment. Each of the undersigned parties agrees to indemnify the other for any losses, claims, liabilities or expenses (including reasonable legal fees and expenses) resulting from, or arising in connection with, the breach by such party of any representations, warranties or agreements in this Agreement. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement. IN WITNESS WHEREOF, each of the undersigned hereby executes this Agreement as of May 7, 2001. AMERICAN INTERNATIONAL GROUP, INC. By /s/ Kathleen E. Shannon ------------------------------------ Name: Kathleen E. Shannon Title: Vice President and Secretary AMERICAN HOME ASSURANCE COMPANY By /s/ Edward E. Matthews ------------------------------------ Name: Edward E. Matthews Title: Senior Vice President Page 9 of 9