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                                                                    EXHIBIT 10.5

                                     FORM OF
                               WARRANT TO PURCHASE
                                  COMMON STOCK

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT
BEEN REGISTERED FOR RESALE UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"ACT"), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED,
PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS
TO SUCH SECURITIES AND SUCH DISPOSITION FILED UNDER THE ACT, OR AN EXEMPTION
FROM REGISTRATION, AND COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS. THE
ISSUER MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER HEREOF THAT
SUCH REGISTRATION IS NOT REQUIRED AND THAT SUCH LAWS ARE COMPLIED WITH.

Void After 5:00 p.m., Eastern Time, on April 26, 2007                   No. ____

                               Warrant to Purchase
                              __________ shares of
                     Common Stock, par value $.01 per share
                                       of
                                  DESIGNS, INC.

         This is to Certify That, FOR VALUE RECEIVED, the receipt and
sufficiency of which is hereby acknowledged, ______________________________ (the
"HOLDER") is entitled to purchase, subject to the provisions of this Warrant,
from Designs, Inc. ("COMPANY"), a Delaware corporation, at any time prior to
5:00 p.m., Eastern Time, on April 26, 2007, a total of __________ shares of
Common Stock, par value $.01 per share, of the Company ("SECURITIES") at an
initial purchase price of $0.01 per share. The number of Securities to be
received upon the exercise of this Warrant and the price to be paid for the
Securities may be adjusted from time to time as hereinafter set forth. The
number of Securities to be received upon the exercise of this Warrant in effect
at any time and as adjusted from time to time is hereinafter sometimes referred
to as the "EXERCISE RATE" and the purchase price per Security in effect at any
time and as adjusted from time to time, and subject to the minimum purchase
price set forth in Section 7(l), is hereinafter sometimes referred to as the
"EXERCISE PRICE" per Security. This Warrant is or may be one of a series of
Warrants identical in form issued by the Company to purchase an aggregate of
2,891,471 shares of Common Stock. The Securities, as adjusted from time to time,
together with any other Securities issuable upon exercise of this Warrant are
hereinafter sometimes referred to as "WARRANT SECURITIES". Certain capitalized
terms used in this Warrant are defined in Section 14 hereof.

                  1. EXERCISE OF WARRANT. This Warrant may be exercised at the
option of the Holder in whole or in part at any time or from time to time prior
to 5:00 p.m., Eastern Time on April 26, 2007, or if April 26, 2007, is a
Saturday, Sunday or a day on which banking institutions in New York, New York
are authorized by law to close, then on the next succeeding day (a "BUSINESS
DAY") which shall not be such a day, by presentation and surrender hereof to the
Company or at the office of its stock transfer agent, if any, with the Purchase
Form annexed hereto duly executed, and accompanied by payment of the Exercise
Price, for the number of Securities specified in such Form, together with all
federal and state taxes applicable upon such exercise. If, upon exercise of this
Warrant, the Warrant Securities issuable upon exercise of this Warrant are not
then registered under the Act pursuant to an effective registration statement
thereunder, the Holder shall be deemed to have represented and warranted to the
Company that such Holder (x) is a "qualified institutional

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buyer" as defined in Rule 144A under the Act or and "accredited investor" as
defined in Rule 501 under the Act, in either case with such knowledge and
experience in financial and business matters as is necessary to evaluate the
merits and risks of an investment in the Warrant Securities, and (y) such Holder
is not acquiring the Warrant Securities with a view to any distribution thereof
or with any intention of offering or selling any Warrant Securities in a
transaction that would violate the Act or the securities laws of any state of
the United States. If this Warrant should be exercised in part only, the Company
shall, upon surrender of this Warrant for cancellation, execute and deliver a
new Warrant evidencing the right of the Holder to purchase the balance of the
Securities purchasable hereunder. Upon receipt by the Company of this Warrant at
the office of the Company or at the office of the Company's stock transfer
agent, in proper form for exercise and accompanied by the Exercise Price, if and
as applicable, the Holder shall be deemed to be the holder of record of the
Securities issuable upon such exercise, notwithstanding that the stock transfer
books of the Company shall then be closed or that certificates representing such
Securities shall not then be actually delivered to the Holder.

                  2. RESERVATION OF SECURITIES. The Company hereby agrees that
at all times there shall be reserved for issuance and/or delivery upon exercise
of this Warrant such number of shares of Securities as shall be required for
issuance or delivery upon exercise of this Warrant. The Company covenants and
agrees that, upon exercise of this Warrant and payment of the Exercise Price
therefor, if and as applicable, all Securities and other securities issuable
upon such exercise shall be duly and validly issued, fully paid, non-assessable
and not subject to the preemptive rights of any stockholder. As long as this
Warrant shall be outstanding, the Company shall use its best efforts to cause
all Securities issuable upon the exercise of this Warrant to be listed (subject
to official notice of issuance) on all securities exchanges or quotation systems
on which its Common Stock issued may then be listed and/or quoted.

                  3. FRACTIONAL SHARES. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant. With respect to any fraction of a share called for upon any exercise
hereof, the Company shall pay to the Holder an amount in cash equal to such
fraction multiplied by the Prior Day Market Value of such fractional share.

                  4. LOSS OF WARRANT. Upon receipt by the Company of evidence
satisfactory to it of the loss, theft, destruction or mutilation of this
Warrant, and (in the case of loss, theft or destruction) of reasonably
satisfactory indemnification, and upon surrender and cancellation of this
Warrant, if mutilated, the Company will execute and deliver a new Warrant of
like tenor and date. Any such new Warrant executed and delivered shall
constitute an additional contractual obligation on the part of the Company,
whether or not the Warrant so lost, stolen, destroyed, or mutilated shall be at
any time enforceable by anyone.

                  5. RIGHTS OF THE HOLDER. The Holder shall not, by virtue
hereof, be entitled to any rights of a stockholder in the Company, either at law
or equity, and the rights of the Holder are limited to those expressed in this
Warrant and the registration rights agreement referred to in Section 15 hereof.

                  6. CERTAIN NOTICES TO WARRANT HOLDERS. The Company shall give
prompt written notice to the Holder of any determination to make a distribution
to the holders of its Common Stock of any cash dividends, assets, debt
securities, preferred stock, or any rights or warrants to purchase debt
securities, preferred stock, assets or other securities (other than Common
Stock, or rights, options, or warrants to purchase Common Stock) of the Company,
which notice shall state the nature and amount of such planned dividend or
distribution and the record date therefor, and shall be received by the Holder
or sent to the Holder by reputable overnight courier, in either case to its
address as provided in Section 8, at least 10 days prior to such record date
therefor. The Company shall provide notice to the Holder that any tender offer
is being made for securities of the same class as any Warrant Securities no
later than the first Business Day after the day the Company becomes aware of any
such tender offer. Notwithstanding any notice provided to the Holder pursuant to
this Section 6, the Holder

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shall be entitled to any and all applicable adjustments to the Exercise Rate and
the Exercise Price per Security as provided in Section 7 arising out of any
event requiring notice to the Holder in this Section 6.

                  7. ADJUSTMENT OF EXERCISE RATE AND EXERCISE PRICE.

                  The Exercise Rate and the Exercise Price are subject to
adjustment from time to time upon the occurrence of the events enumerated in
this Section 7. The Exercise Rate shall initially be the number of Securities
for which this Warrant is initially exercisable as set forth in the introductory
paragraph to this Warrant. In the event that this Warrant is transferred or
exercised in part, the initial Exercise Rate of the portion not exercised or
transferred shall be adjusted proportionately as shall the initial Exercise Rate
of any partial transfer of this Warrant. For the purposes of Sections 7(a) and
7(b), (i) shares of Common Stock issuable upon the exercise of this Warrant and
all other warrants of the same series as this Warrant shall be deemed to be
outstanding and (ii) all shares of Common Stock that would be deemed to be
outstanding as of the date of determination in respect of Convertible
Securities, as determined in accordance with GAAP, shall be deemed to be
outstanding.

         (a) ADJUSTMENT FOR CHANGE IN CAPITAL STOCK. If, after the Issue Date,
the Company:

             (i) pays a dividend or makes a distribution on shares of its Common
         Stock payable in shares of its Common Stock (except to the extent any
         such dividend results in the grant, issuance, sale or making of
         Distribution Rights or Distributions (each as defined in Section 7(c))
         to the Holder pursuant to Section 7(c));

             (ii) subdivides or splits its outstanding shares of Common Stock
         into a greater number of shares; or

             (iii) combines its outstanding shares of Common Stock into a
         smaller number of shares;

then (1) the Exercise Rate in effect immediately prior to such action for this
Warrant shall be adjusted by multiplying the Exercise Rate in effect immediately
prior to such action by a fraction (A) the numerator of which shall be the
number of shares of Common Stock outstanding immediately after such action and
(B) the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such action or the record date applicable to
such action, if any and (2) the Exercise Price per Security in effect
immediately prior to such action shall be adjusted by multiplying the Exercise
Price per Security in effect immediately prior to such action by a fraction (A)
the numerator of which is one and (B) the denominator of which shall be the
fraction calculated in clause (1) of the above formula. The adjustments shall
become effective immediately after the record date in the case of a dividend or
distribution and immediately after the effective date in the case of a
subdivision or combination. In the event that such dividend or distribution is
not so paid or made or such subdivision, combination or reclassification is not
effected, the Exercise Rate and the Exercise price per Security shall again be
adjusted to be the Exercise Rate and the Exercise Price per Security which would
then be in effect if such record date or effective date had not been so fixed.

         (b) ADJUSTMENT FOR CERTAIN SALES OF COMMON STOCK BELOW CURRENT MARKET
VALUE. If, after the Issue Date, the Company (i) grants or sells to any
Affiliate of the Company (other than a wholly owned subsidiary of the Company)
or (ii) grants, sells or offers to grant or sell to all holders of Common Stock,
any shares of Common Stock or Convertible Securities (other than, in the case of
each of clauses (i) and (ii), (1) pursuant to any Convertible Security or other
right outstanding as of the Issue Date or issuable in connection with the
Transactions and financing therefor and the fees and expenses thereof, or (2)
upon the conversion, exchange or exercise of any Convertible Security or other
right as to which upon the issuance thereof an adjustment pursuant to this
Section 7 has been made), at a price below the then Current Market Value, the

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Exercise Rate and the Exercise price per Security for this Warrant shall be
adjusted in accordance with the formulae:

         E(1)     =            E X (O+N)        $(1)   =      $ X (O + N X P/M)
                           -----------------                  -----------------
                           (O + (N X P/M))                         (O + N)

where:

         E(1)     =        the adjusted Exercise Rate for this Warrant;

         E        =        the then current Exercise Rate for this Warrant;

         $(1)     =        the adjusted Exercise Price per Security for this
                           Warrant;

         $        =        the then current Exercise Price per Security for this
                           Warrant;

         O        =        the number of shares of Common Stock outstanding
                           immediately prior to the sale of such Common Stock or
                           issuance of Convertible Securities;

         N        =        the number of shares of Common Stock so sold or the
                           maximum stated number of shares of Common Stock
                           issuable upon the conversion, exchange or exercise of
                           any such Convertible Securities;

         P        =        the proceeds per share of Common Stock received by
                           the Company, which (i) in the case of shares of
                           Common Stock is the amount received by the Company in
                           consideration for the sale and issuance of such
                           shares; and (ii) in the case of Convertible
                           Securities is the amount received by the Company in
                           consideration for the sale and issuance of such
                           Convertible Securities, plus the minimum aggregate
                           amount of additional consideration, other than the
                           surrender of such Convertible Securities, payable to
                           the Company upon exercise, conversion or exchange
                           thereof; and

         M        =        the Current Market Value as of the Time of
                           Determination or at the time of sale, as the case may
                           be, of a share of Common Stock.

         The adjustments shall become effective immediately after the record
date for the determination of shareholders entitled to receive the rights,
warrants or options to which this paragraph (b) applies or upon consummation of
the sale of Common Stock, as the case may be. To the extent that shares of
Common Stock are not delivered after the expiration of such rights, warrants or
options or exercise, conversion or exchange rights in respect to such
Convertible Securities, the Exercise Rate and the Exercise Price per Security
for this Warrant shall be readjusted to the Exercise Rate and the Exercise Price
per Security which would otherwise be in effect had the adjustment made upon the
issuance of such rights, warrants or options or Convertible Securities been made
on the basis of delivery of only the number of shares of Common Stock actually
delivered. In the event that such rights or warrants are not so issued, the
Exercise Rate and the Exercise Price per Security for this Warrant shall again
be adjusted to be the Exercise Rate and the Exercise Price per Security which
would then be in effect if such date fixed for determination of shareholders
entitled to receive such rights, warrants or options had not been so fixed.

         No adjustments shall be made under this paragraph (b) if the
application of the formula stated above in this paragraph (b) would result in a
value of E(1) that is lower than the value of E.

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         No adjustments shall be made under this paragraph (b) for any
adjustments which are the subject of paragraphs (a), (c) or (e) of this Section
7.

         Anything in this Warrant to the contrary notwithstanding, an event
which would otherwise give rise to adjustments pursuant to this Section 7(b)
shall not give rise to such adjustments if the Company grants, sells or offers
to sell shares of Common Stock or Convertible Securities, in each case on the
same terms as the underlying event, to the Holder on a PRO RATA basis, assuming
for the purpose of this Section 7(b) that all warrants of the same series as
this Warrant had been exercised.

         Notwithstanding the foregoing, no adjustment in the Exercise Rate or
the Exercise Price per Security will be required in respect of: (a) the grant of
any stock option or other stock incentive award pursuant to any present stock
option or stock incentive plan or arrangement or pursuant to any other customary
compensatory stock option or stock incentive plan for employees, officer and/or
directors, (b) the grant of any stock option or stock incentive award at an
exercise price at least equal to the then Prior Day Market Value or (c) the
exercise of any stock option or stock incentive award or similar award or right.

         (c) ADJUSTMENT UPON CERTAIN DISTRIBUTIONS.

             (i) If at any time after the Issue Date the Company grants, issues
         or sells options, any Convertible Security, or rights to purchase
         capital stock or other securities (other than Common Stock) PRO RATA to
         the record holders or series of Common Stock ("DISTRIBUTION RIGHTS")
         or, without duplication, makes any distribution (other than a
         distribution pursuant to a plan of liquidation) other than a Permitted
         Cash Dividend (a "DISTRIBUTION") on shares of Common Stock (whether in
         cash, property, evidences of indebtedness, or otherwise), then the
         Exercise Rate and the Exercise Price per Security shall be adjusted in
         accordance with the formulae:

         E(1)     =        E X (M/(M-F))         $(1)     =        $ X ((M-F)/M)

where:

         E(1)     =        the adjusted Exercise Rate;

         E        =        the current Exercise Rate for this Warrant;

         $(1)     =        the adjusted Exercise Price per Security for this
                           Warrant;

         $        =        the current Exercise Price per Security for this
                           Warrant;

         M        =        the Current Market Value per share of Common Stock at
                           the Time of Determination;

         F        =        the fair market value at the Time of Determination
                           of such portion of the options, Convertible
                           Securities, capital stock or other securities, cash,
                           property or assets distributable pursuant to such
                           Distribution Rights or Distribution per share of
                           outstanding Common Stock.

         The adjustments shall become effective immediately after the Time of
Determination with respect to the shareholders entitled to receive the options,
Convertible Securities, warrants, cash, property, evidences of indebtedness or
other securities or assets to which this paragraph (c)(i) applies. No
adjustments shall be made under this paragraph (c) if the application of the
formula stated above in this paragraph (c)(i) would result in a value of

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                                       -6-

E(1) that is lower than the value of E. This paragraph (c)(i) does not apply to
any securities which result in adjustments pursuant to paragraphs (a) or (b) of
this Section 7.

                  (ii) Anything in this Warrant to the contrary notwithstanding,
         an event which would otherwise give rise to adjustments pursuant to
         Section 7(c)(i) shall not give rise to such adjustments (or to
         adjustments pursuant to any other provision of this Section 7) if the
         Company grants, issues or sells Distribution Rights to the Holder or
         includes the Holder in such Distribution, in each case on a PRO RATA
         basis, assuming for the purpose of this Section 7(c)(ii) that all
         warrants of the same series as this Warrant had been exercised.

                  (iii) Notwithstanding anything to the contrary set forth in
         this Section 7(c), if, at any time, the Company makes any distribution
         pursuant to any plan of liquidation (a "LIQUIDATING DISTRIBUTION") on
         shares of Common Stock (whether in cash, property, evidences of
         indebtedness or otherwise), then, subject to applicable law, the
         Company shall make to the Holder the aggregate Liquidating Distribution
         which the Holder would have acquired if the Holder had held the maximum
         number of shares of Common Stock acquirable upon the complete exercise
         of this Warrant immediately before the Time of Determination of
         shareholders entitled to receive Liquidating Distributions.

         (d)      NOTICE OF ADJUSTMENTS. Whenever the Exercise Rate and Exercise
Price per Security are adjusted, the Company shall promptly mail to the Holder a
notice of the adjustments. The Company shall also provide the Holder with a
certificate from the Company's independent public accountants briefly stating
the facts requiring the adjustments and the manner of computing it. The
certificate shall be conclusive evidence that the adjustments are correct,
absent manifest error.

         (e)      REORGANIZATION OF COMPANY; FUNDAMENTAL TRANSACTION.

                  (i) If (x) the Company shall reclassify its Common Stock
         (other than a change in par value, or from par value to no par value,
         or a subdivision or combination thereof), or (y) the Company, in a
         single transaction or through a series of related transactions,
         consolidates with or merges with or into any other person or sells,
         assigns, transfers, leases, conveys or otherwise disposes of all or
         substantially all of its properties and assets to another person or
         group of affiliated persons or is a party to a merger or binding share
         exchange which, in the case of any of the transactions referred to in
         this clause (y), reclassifies or changes its outstanding Common Stock
         (each of (x) and (y) above being referred to as a "FUNDAMENTAL
         TRANSACTION"), as a condition to consummating any such Fundamental
         Transaction, the Company, in the case of any such reclassification
         referred to in clause (x), or the person formed by or surviving any
         such consolidation or merger if other than the Company or the person to
         whom such transfer has been made in the case of clause (y) above (the
         "SURVIVING PERSON"), shall enter into a supplemental warrant agreement.
         The supplemental warrant agreement shall provide (a) that the Holder
         may exercise this Warrant for the kind and amount of securities, cash
         or other assets which the Holder would have received immediately after
         the Fundamental Transaction if the Holder had exercised this Warrant
         immediately before the effective date of the transaction, assuming (to
         the extent applicable) that the Holder (i) was not a constituent person
         or an affiliate of a constituent person to any transaction described in
         clause (y) above, (ii) made no election with respect to any transaction
         described in clause (y) above, and (b) in the case of any transaction
         described in clause (y) above, that the Surviving Person shall succeed
         to and be substituted to every right and obligation of the Company in
         respect of this Warrant. The supplemental warrant agreement shall
         provide for adjustments which shall be as nearly equivalent as may be
         practicable to the adjustments provided for in this Section 7. The
         Surviving Person or the Company, as applicable, shall mail to the
         Holder a notice briefly describing the supplemental

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                                       -7-

         warrant agreement. If the issuer of securities deliverable upon
         exercise of this Warrant is an affiliate of a Surviving Person, that
         issuer shall join in the supplemental warrant agreement.

                  (ii) Notwithstanding the foregoing, if a Fundamental
         Transaction shall occur and, upon consummation of such Fundamental
         Transaction, consideration is payable to holders of shares of Common
         Stock which consideration consists solely of cash, assuming (to the
         extent applicable) that the Holder (i) was not a constituent person or
         an affiliate of a constituent person to a transaction described in
         Section 7(e)(i)(y) above and (ii) made no election with respect
         thereto, then the Holder shall be entitled to receive distributions
         upon consummation of such Fundamental Transaction on an equal basis
         with holders of Common Stock as if this Warrant had been exercised
         immediately prior to such event, less the aggregate Exercise Price
         therefor; PROVIDED that the Company or the Surviving Person, as the
         case may be, may require the surrender of this Warrant to such person
         prior to making any such distribution to the Holder. Upon receipt of
         such payment, if any, the rights of the Holder shall terminate and
         cease and this Warrant shall expire.

                  (iii) If this paragraph (f) applies, it shall supersede the
         application of paragraph (a), (b) or (c) of this Section 7.

         (f)      OTHER EVENTS If any event occurs as to which the provisions of
this Section 7 are not strictly applicable or, if strictly applicable, would
not, in the good faith judgment of the board of directors of the Company, fairly
and adequately protect the rights of the Holder in accordance with the essential
intent and principles of such provisions, then such board of directors shall
make such adjustments in the application of such provisions, in accordance with
such essential intent and principles, as shall be reasonably necessary, in the
good faith opinion of such board of directors, to protect such rights as
aforesaid, but in no event shall any such adjustment have the effect of
decreasing the Exercise Rate or decreasing the number of Securities issuable
upon exercise of this Warrant or increasing the Exercise Price per Security.

         (g)      COMPANY DETERMINATION FINAL. Any determination that the
Company or the board of directors of the Company must make pursuant to this
Section 7 shall be conclusive, absent manifest error.

         (h)      SPECIFICITY OF ADJUSTMENTS. Regardless of any adjustments in
the number or kind of shares purchasable upon the exercise of this Warrant or
the Exercise Price per Security, this Warrant may continue to express the same
number and kind of Securities initially issuable pursuant to this Warrant and
the initial Exercise Price per Security as set forth in the first paragraph
hereof.

         (i)      VOLUNTARY ADJUSTMENT. The Company from time to time may
increase the Exercise Rate and correspondingly decrease the Exercise Price per
Security by any number and for any period of time; PROVIDED, HOWEVER, that such
period is not less than 20 Business Days. Whenever the Exercise Rate is so
increased and the Exercise Price per Security is so decreased, the Company shall
mail to the Holder a notice thereof. The Company shall give the notice at least
10 days before the date the increased Exercise Rate and decreased Exercise Price
per Security takes effect. The notice shall state the increased Exercise Rate
and decreased Exercise Price per Security and the period it will be in effect. A
voluntary increase in the Exercise Rate and decrease in the Exercise Price per
Security shall not change or adjust the Exercise Rate or Exercise Price per
Security otherwise in effect as determined by this Section 7.

         (j)      MULTIPLE ADJUSTMENTS. After an adjustment to the Exercise Rate
and Exercise Price per Security for this Warrant under this Section 7, any
subsequent event requiring an adjustment under this Section 7 shall cause an
adjustment to the Exercise Rate and Exercise Price per Security for this Warrant
as so adjusted.

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                                       -8-

         (k)      WHEN DE MINIMIS ADJUSTMENT MAY BE DEFERRED. No adjustment in
the Exercise Rate or Exercise Price per Security shall be required unless such
adjustment would require an increase or decrease of at least 1% in the Exercise
Rate; PROVIDED, HOWEVER, that any adjustments which by reason of the foregoing
are not required to be made shall be carried forward and taken into account in
any subsequent adjustment. All calculations of the Exercise Rate shall be
rounded to the nearest whole number. All calculations of the Exercise Price per
Security shall be rounded to the nearest ten thousandth of one cent. No
adjustments need be made for a change in the par value of the Common Stock and
no adjustments shall be deferred beyond the date on which this Warrant is
exercised.

         (l)      Notwithstanding any adjustment to the Exercise Price called
for by this Section 7, in no event will the Exercise Price per share of Common
Stock be adjusted to an amount that is less than the par value per share of the
Common Stock at the time of such adjustment, and if, but for the provisions of
this Section 7(l), an adjustment to the Exercise Price would be required under
this Section 7 that would result in an Exercise Price per share of Common Stock
that is less than the par value per share of the Common Stock, then the Exercise
Price shall be adjusted such that the Exercise Price per share of Common Stock
equals the par value of the Common Stock.

         (m)      AMENDMENTS OF THE CERTIFICATE OF INCORPORATION. The Company
shall not amend its Certificate of Incorporation to increase the par value of
any Warrant Security such that such par value would exceed the Exercise Price
per share of such Warrant Security.

                  8. NOTICES. Any notices or certificates by the Company to the
Holder and by the Holder to the Company shall be deemed delivered if in writing
and delivered personally or sent by certified mail or reputable overnight
courier, to the Holder, addressed as set forth in the Instructions for
Registration of Warrant delivered to the Company, which may be superseded from
time to time upon notice to the Company, and, if to the Company, addressed to
Designs, Inc., 66 B Street, Needham, Massachusetts, 02494, Attention: Chief
Financial Officer. The Company may change its address by written notice to the
Holder.

                  9. LIMITATIONS ON TRANSFERABILITY. This Warrant may be divided
or combined, upon request to the Company by the Holder, into a certificate or
certificates evidencing the same aggregate number of Warrants. This Warrant may
not be offered, sold, transferred, pledged or hypothecated (i) in the absence of
an effective registration statement as to this Warrant and such transaction
filed under the Act, or an exception from the requirement of such registration,
and compliance with the applicable federal and state securities laws, (ii) in an
amount representing the right to purchase fewer than 140,000 shares of Common
Stock, and (iii) with the consent of the Company, which consent shall not
unreasonably be withheld. The Company may require an opinion of counsel
satisfactory to the Company that such registration is not required and that such
laws are complied with. The Company may treat the registered holder of this
Warrant as he or it appears on the Company's books at any time as the Holder for
all purposes. The Company shall permit the Holder or his duly authorized
attorney, upon written request during ordinary business hours, to inspect and
copy or make extracts from its books showing the registered holders of Warrants.

                  10. TRANSFER TO COMPLY WITH THE SECURITIES ACT OF 1933. The
Company may cause the following legend, or one similar thereto, to be set forth
on this Warrant and on each certificate representing Warrant Securities, or any
other security issued or issuable upon exercise of this Warrant, unless (a) the
Company has received an opinion of counsel satisfactory to the Company as to any
such certificate that such legend, or one similar thereto, is unnecessary or (b)
a registration statement with respect to this Warrant and the Warrant Securities
has become effective under the Act.

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                                       -9-

         "THIS SECURITY HAS NOT BEEN REGISTERED FOR RESALE UNDER THE SECURITIES
         ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS AND
         MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE
         ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITY AND
         SUCH DISPOSITION FILED UNDER THE ACT, OR AN EXEMPTION FROM
         REGISTRATION, AND COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS. THE
         ISSUER MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER
         HEREOF THAT SUCH REGISTRATION IS NOT REQUIRED AND THAT SUCH LAWS ARE
         COMPLIED WITH."

                  11. APPLICABLE LAW. This Warrant shall be governed by, and
construed in accordance with, the laws of the State of New York, without giving
effect to conflict of law principles.

                  12. AMENDMENTS. This Warrant may not be amended except in a
writing signed by the Holder and the Company.

                  13. SEVERABILITY. If any provisions of this Warrant shall be
held to be invalid or unenforceable, such invalidity or enforceability shall not
affect any other provision of this Warrant.

                  14. CERTAIN DEFINITIONS. In addition to the capitalized terms
defined elsewhere in this Warrant, the following capitalized terms shall have
the meanings set forth below.

         "ACT" shall mean the Securities Act of 1933, as amended, together with
the rules and regulations promulgated thereunder.

         "AFFILIATE" of a person shall mean a person who directly or indirectly
through one or more intermediaries controls, or is controlled by, or is under
common control with, such person. The term "control" means the power to direct
or cause the direction of the management and policies of a person, whether
through the ownership of voting securities, by contract or otherwise.

         "CONVERTIBLE SECURITY" shall mean any security convertible into or
exchangeable or exercisable for Common Stock, including but not limited to,
rights, options or warrants entitling the holder thereof to acquire Common Stock
or any security convertible into or exchangeable for Common Stock.

         "CURRENT MARKET VALUE" per share of Common Stock of the Company at any
date shall mean:

                  (1)  if Common Stock is not then registered under the Exchange
         Act and traded on a national securities exchange or on the Nasdaq
         National Market System,

                       (a) the value of such Common Stock, determined in good
                  faith by the board of directors of the Company and certified
                  in a board resolution, taking into account the most recently
                  completed arms-length transaction between the Company and a
                  person other than an Affiliate of the Company and the closing
                  of which occurs on such date or shall have occurred within the
                  six-month period preceding such date, or

                       (b) if no such transaction shall have occurred on such
                  date or within such six-month period, the fair market value of
                  the security as determined by a nationally recognized
                  investment bank; PROVIDED, HOWEVER, that, in the case of the
                  calculation of Current Market Value for determining the cash
                  value of fractional shares, no such determination by an
                  investment

<Page>

                                      -10-

                  bank shall be required and the good faith judgment of
                  the board of directors as to such value shall be conclusive,
                  or

                  (2)    (a) if Common Stock is then registered under the
         Exchange Act and traded on a national securities exchange or on the
         Nasdaq National Market System, the average of the daily closing sales
         prices of such Common Stock for the 20 consecutive trading days
         immediately preceding such date, or

                         (b) if Common Stock has been registered under the
                  Exchange Act and traded on a national securities exchange or
                  on the Nasdaq National Market System for less than 20
                  consecutive trading days before such date, then the average of
                  the daily closing sales prices for all of the trading days
                  before such date for which closing sales prices are available,

         in the case of each of (2)(a) and (2)(b), as certified by the Chief
         Executive Officer, the President, any Executive Vice President or the
         Chief Financial Officer or Treasurer of the Company. The closing sales
         price of each such trading day shall be the closing sales price,
         regular way, on such day or, if no sale takes place on such day, the
         average of the closing bid and asked prices on such day.

         "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended, together with the rules and regulations promulgated thereunder.

         "GAAP" shall mean generally accepted accounting principles in the
United States as in effect on April 26, 2002.

         "ISSUE DATE" shall mean __________, 2002.

         "PERMITTED CASH DIVIDEND" shall mean any cash dividend in respect of
Common Stock that, together with all such dividends (other than dividends with
respect to which an adjustment has been made pursuant to Section 7(c)(i) or a
dividend which was also paid on a pro rata basis to the Holder as contemplated
by Section 7(c)(ii)) declared in respect of Common Stock during the previous
twelve months, on a per share basis, does not exceed 10% of the average closing
sales prices per share of the Common Stock for each trading day during such
twelve month period.

         "PRIOR DAY MARKET VALUE" per share of Common Stock of the Company at
any date shall mean:

                  (1) if Common Stock is not then registered under the
         Exchange Act and traded on a national securities exchange or on the
         Nasdaq National Market System, the Current Market Value per share of
         Common Stock, or

                  (2) if Common Stock is then registered under the Exchange
         Act and traded on a national securities exchange or on the Nasdaq
         National Market System, the closing sales price of Common Stock for
         the trading day ending immediately prior to the event causing the
         Prior Day Market Value to be determined.

         "TIME OF DETERMINATION" shall mean (i) in the case of any distribution
of securities or other property to existing shareholders to which Section 7(b)
or (c) applies, the time and date of the determination of shareholders entitled
to receive such securities or property or (ii) in the case of any other issuance
and sale to which Section 7(b) or 7(c) applies, the time and date of such
issuance or sale.

<Page>

                                     -11-

                  15. REGISTRATION RIGHTS. In the event that the Holder gives
notice to the Company in accordance with Section 8 hereof of its irrevocable
election to exercise this Warrant and other warrants of the same series as
this Warrant held by such Holder to the extent of at least 280,000 shares of
Common Stock and requests that such shares issuable upon such exercise be
registered under the Act, the Company undertakes to prepare and cause to be
filed with the Securities and Exchange Commission within 30 days thereafter
(provided the Company is then eligible to effect such registration on Form S-3
or any successor form) a registration statement under the Act relating to
resales of such Common Stock by the Holder, and shall use commercially
reasonable efforts to cause such registration statement to be declared
effective within 45 days after such filing and to keep such registration
statement effective for 90 days or until such earlier time as such Common
Stock issued upon exercise has been sold by the Holder pursuant thereto;
PROVIDED, HOWEVER, that the Holder shall be bound (and if requested by the
Company shall confirm in writing that it is so bound) by reasonable and
customary terms for the provision of information by the Holder, the suspension
of sales in the event of material developments regarding the Company, delays
in registration in the event of any offering of securities for the account of
the Company, and other matters, all on substantially the same terms as may be
applicable in one or more cases to holders of other securities of the Company
having similar rights to request registration under the Act.

                 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<Page>

                  16. EFFECTIVENESS, ETC. Notwithstanding any other provision
hereof, (i) this Warrant shall not become exercisable unless and until the
Company consummates the Casual Male Acquisition as defined in the Note
Agreement between the Company and certain purchasers of the Company's 12%
Senior Subordinated Notes due 2007 (the "Note Agreement"), and (ii) this
Warrant shall automatically be rescinded, cancelled and of no further force
and effect upon the occurrence of a Mandatory Redemption Event (as defined in
the Note Agreement). Capitalized terms used, but not defined, in this Warrant
shall have the respective meanings ascribed to them in the Note Agreement
unless the context otherwise requires.

                                          DESIGNS, INC.

                                          By:
                                             -----------------------------------
                                              Name: David A. Levin
                                              Title: President

Date: __________, 2002

Attest:

By:
   ------------------------------------
Name: Dennis R. Hernreich
Title: Chief Financial Officer

<Page>

                                  PURCHASE FORM

                                                      Dated ____________, 20__

         The undersigned hereby irrevocably elects to exercise this Warrant to
the extent ________ of shares of Common Stock.

         The undersigned has concurrently herewith made payment of $         in
payment of the aggregate Exercise Price.

         If the issuance of the Warrant Securities is not registered under the
Securities Act of 1933, as amended, the undersigned makes the representation and
warranty set forth in Section 1 of this Warrant.

                   INSTRUCTIONS FOR REGISTRATION OF SECURITIES

Name
     --------------------------------------------------------------------------
                  (please typewrite or print in block letters)

Address
        -----------------------------------------------------------------------

Signature
          ---------------------------------------------------------------------

                                 ASSIGNMENT FORM

         FOR VALUE RECEIVED, ___________________________________________________
hereby sells, assigns and transfers unto

Name
     ---------------------------------------------------------------------------
                  (please typewrite or print in block letters)

Address ________________________________________________________________________
the right to purchase shares of Common Stock as represented by this
Warrant to the extent of shares of Common Stock as to which such right is
exercisable and does hereby irrevocably constitute and appoint, _______________
attorney, to transfer the same on the books of the Company with full power of
substitution in the premises.

Signature
          ----------------------------------------------------------------------

Dated: _______________ 20____

<Page>

                    INSTRUCTIONS FOR REGISTRATION OF WARRANT

Name
    ---------------------------------------------------------------------------
                  (please typewrite or print in block letters)

Address
        -----------------------------------------------------------------------

Signature
          ---------------------------------------------------------------------<Page>

                                                                    EXHIBIT 10.6

                                     FORM OF
                               WARRANT TO PURCHASE
                                  COMMON STOCK

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT
BEEN REGISTERED FOR RESALE UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"ACT"), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED,
PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS
TO SUCH SECURITIES AND SUCH DISPOSITION FILED UNDER THE ACT, OR AN EXEMPTION
FROM REGISTRATION, AND COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS. THE
ISSUER MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER HEREOF THAT
SUCH REGISTRATION IS NOT REQUIRED AND THAT SUCH LAWS ARE COMPLIED WITH.

Void After 5:00 p.m., Eastern Time, on April 26, 2007                  No. ____

                               Warrant to Purchase
                              __________ shares of
                     Common Stock, par value $.01 per share
                                       of
                                  DESIGNS, INC.

         This is to Certify That, FOR VALUE RECEIVED, the receipt and
sufficiency of which is hereby acknowledged, ______________________________ (the
"HOLDER") is entitled to purchase, subject to the provisions of this Warrant,
from Designs, Inc. ("COMPANY"), a Delaware corporation, at any time prior to
5:00 p.m., Eastern Time, on April 26, 2007, a total of __________ shares of
Common Stock, par value $.01 per share, of the Company ("SECURITIES") at an
initial purchase price of $0.01 per share. The number of Securities to be
received upon the exercise of this Warrant and the price to be paid for the
Securities may be adjusted from time to time as hereinafter set forth. The
number of Securities to be received upon the exercise of this Warrant in effect
at any time and as adjusted from time to time is hereinafter sometimes referred
to as the "EXERCISE RATE" and the purchase price per Security in effect at any
time and as adjusted from time to time, and subject to the minimum purchase
price set forth in Section 7(l), is hereinafter sometimes referred to as the
"EXERCISE PRICE" per Security. This Warrant is or may be one of a series of
Warrants identical in form issued by the Company to purchase an aggregate of
2,891,471 shares of Common Stock. The Securities, as adjusted from time to time,
together with any other Securities issuable upon exercise of this Warrant are
hereinafter sometimes referred to as "WARRANT SECURITIES". Certain capitalized
terms used in this Warrant are defined in Section 14 hereof.

             1. EXERCISE OF WARRANT. This Warrant may be exercised at the option
of the Holder in whole or in part at any time or from time to time beginning at
such time as the Company has obtained the requisite stockholder approval
required by Nasdaq for the issuance of such shares of Common Stock (the
"Stockholder Approval"), but prior to 5:00 p.m., Eastern Time on April 26, 2007,
or if April 26, 2007, is a Saturday, Sunday or a day on which banking
institutions in New York, New York are authorized by law to close, then on the
next succeeding day (a "BUSINESS DAY") which shall not be such a day, by
presentation and surrender hereof to the Company or at the office of its stock
transfer agent, if any, with the Purchase Form annexed hereto duly executed, and
accompanied by payment of the Exercise Price, for the number of Securities
specified in such Form, together with all federal and state taxes applicable
upon such exercise. If, upon exercise of this Warrant,

<Page>

                                       -2-

the Warrant Securities issuable upon exercise of this Warrant are not then
registered under the Act pursuant to an effective registration statement
thereunder, the Holder shall be deemed to have represented and warranted to the
Company that such Holder (x) is a "qualified institutional buyer" as defined in
Rule 144A under the Act or and "accredited investor" as defined in Rule 501
under the Act, in either case with such knowledge and experience in financial
and business matters as is necessary to evaluate the merits and risks of an
investment in the Warrant Securities, and (y) such Holder is not acquiring the
Warrant Securities with a view to any distribution thereof or with any intention
of offering or selling any Warrant Securities in a transaction that would
violate the Act or the securities laws of any state of the United States. If
this Warrant should be exercised in part only, the Company shall, upon surrender
of this Warrant for cancellation, execute and deliver a new Warrant evidencing
the right of the Holder to purchase the balance of the Securities purchasable
hereunder. Upon receipt by the Company of this Warrant at the office of the
Company or at the office of the Company's stock transfer agent, in proper form
for exercise and accompanied by the Exercise Price, if and as applicable, the
Holder shall be deemed to be the holder of record of the Securities issuable
upon such exercise, notwithstanding that the stock transfer books of the Company
shall then be closed or that certificates representing such Securities shall not
then be actually delivered to the Holder. It is understood and agreed that this
Warrant shall not be exercisable until Stockholder Approval is obtained.

             2. RESERVATION OF SECURITIES. The Company hereby agrees that at all
times there shall be reserved for issuance and/or delivery upon exercise of this
Warrant such number of shares of Securities as shall be required for issuance or
delivery upon exercise of this Warrant. The Company covenants and agrees that,
upon exercise of this Warrant and payment of the Exercise Price therefor, if and
as applicable, all Securities and other securities issuable upon such exercise
shall be duly and validly issued, fully paid, non-assessable and not subject to
the preemptive rights of any stockholder. As long as this Warrant shall be
outstanding, the Company shall use its best efforts to cause all Securities
issuable upon the exercise of this Warrant to be listed (subject to official
notice of issuance) on all securities exchanges or quotation systems on which
its Common Stock issued may then be listed and/or quoted.

             3. FRACTIONAL SHARES. No fractional shares or scrip representing
fractional shares shall be issued upon the exercise of this Warrant. With
respect to any fraction of a share called for upon any exercise hereof, the
Company shall pay to the Holder an amount in cash equal to such fraction
multiplied by the Prior Day Market Value of such fractional share.

             4. LOSS OF WARRANT. Upon receipt by the Company of evidence
satisfactory to it of the loss, theft, destruction or mutilation of this
Warrant, and (in the case of loss, theft or destruction) of reasonably
satisfactory indemnification, and upon surrender and cancellation of this
Warrant, if mutilated, the Company will execute and deliver a new Warrant of
like tenor and date. Any such new Warrant executed and delivered shall
constitute an additional contractual obligation on the part of the Company,
whether or not the Warrant so lost, stolen, destroyed, or mutilated shall be at
any time enforceable by anyone.

             5. RIGHTS OF THE HOLDER. The Holder shall not, by virtue hereof, be
entitled to any rights of a stockholder in the Company, either at law or equity,
and the rights of the Holder are limited to those expressed in this Warrant and
the registration rights agreement referred to in Section 15 hereof.

             6. CERTAIN NOTICES TO WARRANT HOLDERS. The Company shall give
prompt written notice to the Holder of any determination to make a distribution
to the holders of its Common Stock of any cash dividends, assets, debt
securities, preferred stock, or any rights or warrants to purchase debt
securities, preferred stock, assets or other securities (other than Common
Stock, or rights, options, or warrants to purchase Common Stock) of the Company,
which notice shall state the nature and amount of such planned dividend or
distribution and the record date therefor, and shall be received by the Holder
or sent to the Holder by reputable overnight

<Page>

                                       -3-

courier, in either case to its address as provided in Section 8, at least 10
days prior to such record date therefor. The Company shall provide notice to the
Holder that any tender offer is being made for securities of the same class as
any Warrant Securities no later than the first Business Day after the day the
Company becomes aware of any such tender offer. Notwithstanding any notice
provided to the Holder pursuant to this Section 6, the Holder shall be entitled
to any and all applicable adjustments to the Exercise Rate and the Exercise
Price per Security as provided in Section 7 arising out of any event requiring
notice to the Holder in this Section 6.

             7. ADJUSTMENT OF EXERCISE RATE AND EXERCISE PRICE.

             The Exercise Rate and the Exercise Price are subject to adjustment
from time to time upon the occurrence of the events enumerated in this Section
7. The Exercise Rate shall initially be the number of Securities for which this
Warrant is initially exercisable as set forth in the introductory paragraph to
this Warrant. In the event that this Warrant is transferred or exercised in
part, the initial Exercise Rate of the portion not exercised or transferred
shall be adjusted proportionately as shall the initial Exercise Rate of any
partial transfer of this Warrant. For the purposes of Sections 7(a) and 7(b),
(i) shares of Common Stock issuable upon the exercise of this Warrant and all
other warrants of the same series as this Warrant shall be deemed to be
outstanding and (ii) all shares of Common Stock that would be deemed to be
outstanding as of the date of determination in respect of Convertible
Securities, as determined in accordance with GAAP, shall be deemed to be
outstanding.

         (a) ADJUSTMENT FOR CHANGE IN CAPITAL STOCK. If, after the Issue Date,
the Company:

             (i) pays a dividend or makes a distribution on shares of its Common
         Stock payable in shares of its Common Stock (except to the extent any
         such dividend results in the grant, issuance, sale or making of
         Distribution Rights or Distributions (each as defined in Section 7(c))
         to the Holder pursuant to Section 7(c));

             (ii) subdivides or splits its outstanding shares of Common Stock
         into a greater number of shares; or

             (iii) combines its outstanding shares of Common Stock into a
         smaller number of shares;

then (1) the Exercise Rate in effect immediately prior to such action for this
Warrant shall be adjusted by multiplying the Exercise Rate in effect immediately
prior to such action by a fraction (A) the numerator of which shall be the
number of shares of Common Stock outstanding immediately after such action and
(B) the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such action or the record date applicable to
such action, if any and (2) the Exercise Price per Security in effect
immediately prior to such action shall be adjusted by multiplying the Exercise
Price per Security in effect immediately prior to such action by a fraction (A)
the numerator of which is one and (B) the denominator of which shall be the
fraction calculated in clause (1) of the above formula. The adjustments shall
become effective immediately after the record date in the case of a dividend or
distribution and immediately after the effective date in the case of a
subdivision or combination. In the event that such dividend or distribution is
not so paid or made or such subdivision, combination or reclassification is not
effected, the Exercise Rate and the Exercise price per Security shall again be
adjusted to be the Exercise Rate and the Exercise Price per Security which would
then be in effect if such record date or effective date had not been so fixed.

         (b) ADJUSTMENT FOR CERTAIN SALES OF COMMON STOCK BELOW CURRENT MARKET
VALUE. If, after the Issue Date, the Company (i) grants or sells to any
Affiliate of the Company (other than a wholly owned subsidiary of the Company)
or (ii) grants, sells or offers to grant or sell to all holders of Common Stock,
any shares of Common Stock or Convertible Securities (other than, in the case of
each of clauses (i) and (ii),

<Page>

                                       -4-

(1) pursuant to any Convertible Security or other right outstanding as of the
Issue Date or issuable in connection with the Transactions and financing
therefor and the fees and expenses thereof, or (2) upon the conversion, exchange
or exercise of any Convertible Security or other right as to which upon the
issuance thereof an adjustment pursuant to this Section 7 has been made), at a
price below the then Current Market Value, the Exercise Rate and the Exercise
price per Security for this Warrant shall be adjusted in accordance with the
formulae:

         E(1)     =         E X (O+N)            $(1)  =     $ X (O + N X P/M)
                        -----------------                    -----------------
                        (O + (N X P/M))                           (O + N)

where:

         E(1)     =        the adjusted Exercise Rate for this Warrant;

         E        =        the then current Exercise Rate for this Warrant;

         $(1)     =        the adjusted Exercise Price per Security for this
                           Warrant;

         $        =        the then current Exercise Price per Security for this
                           Warrant;

         O        =        the number of shares of Common Stock outstanding
                           immediately prior to the sale of such Common Stock or
                           issuance of Convertible Securities;

         N        =        the number of shares of Common Stock so sold or the
                           maximum stated number of shares of Common Stock
                           issuable upon the conversion, exchange or exercise of
                           any such Convertible Securities;

         P        =        the proceeds per share of Common Stock received by
                           the Company, which (i) in the case of shares of
                           Common Stock is the amount received by the Company in
                           consideration for the sale and issuance of such
                           shares; and (ii) in the case of Convertible
                           Securities is the amount received by the Company in
                           consideration for the sale and issuance of such
                           Convertible Securities, plus the minimum aggregate
                           amount of additional consideration, other than the
                           surrender of such Convertible Securities, payable to
                           the Company upon exercise, conversion or exchange
                           thereof; and

         M        =        the Current Market Value as of the Time of
                           Determination or at the time of sale, as the case may
                           be, of a share of Common Stock.

         The adjustments shall become effective immediately after the record
date for the determination of shareholders entitled to receive the rights,
warrants or options to which this paragraph (b) applies or upon consummation of
the sale of Common Stock, as the case may be. To the extent that shares of
Common Stock are not delivered after the expiration of such rights, warrants or
options or exercise, conversion or exchange rights in respect to such
Convertible Securities, the Exercise Rate and the Exercise Price per Security
for this Warrant shall be readjusted to the Exercise Rate and the Exercise Price
per Security which would otherwise be in effect had the adjustment made upon the
issuance of such rights, warrants or options or Convertible Securities been made
on the basis of delivery of only the number of shares of Common Stock actually
delivered. In the event that such rights or warrants are not so issued, the
Exercise Rate and the Exercise Price per Security for this Warrant shall again
be adjusted to be the Exercise Rate and the Exercise Price per Security which
would then be in

<Page>

                                       -5-

effect if such date fixed for determination of shareholders entitled to receive
such rights, warrants or options had not been so fixed.

         No adjustments shall be made under this paragraph (b) if the
application of the formula stated above in this paragraph (b) would result in a
value of E(1) that is lower than the value of E.

         No adjustments shall be made under this paragraph (b) for any
adjustments which are the subject of paragraphs (a), (c) or (e) of this Section
7.

         Anything in this Warrant to the contrary notwithstanding, an event
which would otherwise give rise to adjustments pursuant to this Section 7(b)
shall not give rise to such adjustments if the Company grants, sells or offers
to sell shares of Common Stock or Convertible Securities, in each case on the
same terms as the underlying event, to the Holder on a PRO RATA basis, assuming
for the purpose of this Section 7(b) that all warrants of the same series as
this Warrant had been exercised.

         Notwithstanding the foregoing, no adjustment in the Exercise Rate or
the Exercise Price per Security will be required in respect of: (a) the grant of
any stock option or other stock incentive award pursuant to any present stock
option or stock incentive plan or arrangement or pursuant to any other customary
compensatory stock option or stock incentive plan for employees, officer and/or
directors, (b) the grant of any stock option or stock incentive award at an
exercise price at least equal to the then Prior Day Market Value or (c) the
exercise of any stock option or stock incentive award or similar award or right.

         (c) ADJUSTMENT UPON CERTAIN DISTRIBUTIONS.

             (i) If at any time after the Issue Date the Company grants, issues
         or sells options, any Convertible Security, or rights to purchase
         capital stock or other securities (other than Common Stock) PRO RATA to
         the record holders or series of Common Stock ("DISTRIBUTION RIGHTS")
         or, without duplication, makes any distribution (other than a
         distribution pursuant to a plan of liquidation) other than a Permitted
         Cash Dividend (a "DISTRIBUTION") on shares of Common Stock (whether in
         cash, property, evidences of indebtedness, or otherwise), then the
         Exercise Rate and the Exercise Price per Security shall be adjusted in
         accordance with the formulae:

         E(1)     =        E X (M/(M-F))         $(1)     =        $ X ((M-F)/M)

where:

         E(1)     =        the adjusted Exercise Rate;

         E        =        the current Exercise Rate for this Warrant;

         $(1)     =        the adjusted Exercise Price per Security for this
                           Warrant;

         $        =        the current Exercise Price per Security for this
                           Warrant;

         M        =        the Current Market Value per share of Common Stock at
                           the Time of Determination;

         F        =        the fair market value at the Time of Determination
                           of such portion of the options, Convertible
                           Securities, capital stock or other securities, cash,
                           property or assets distri-

<Page>
                                       -6-

                           butable pursuant to such Distribution Rights or
                           Distribution per share of outstanding Common Stock.

         The adjustments shall become effective immediately after the Time of
Determination with respect to the shareholders entitled to receive the options,
Convertible Securities, warrants, cash, property, evidences of indebtedness or
other securities or assets to which this paragraph (c)(i) applies. No
adjustments shall be made under this paragraph (c) if the application of the
formula stated above in this paragraph (c)(i) would result in a value of E(1)
that is lower than the value of E. This paragraph (c)(i) does not apply to any
securities which result in adjustments pursuant to paragraphs (a) or (b) of this
Section 7.

             (ii) Anything in this Warrant to the contrary notwithstanding, an
         event which would otherwise give rise to adjustments pursuant to
         Section 7(c)(i) shall not give rise to such adjustments (or to
         adjustments pursuant to any other provision of this Section 7) if the
         Company grants, issues or sells Distribution Rights to the Holder or
         includes the Holder in such Distribution, in each case on a PRO RATA
         basis, assuming for the purpose of this Section 7(c)(ii) that all
         warrants of the same series as this Warrant had been exercised.

             (iii) Notwithstanding anything to the contrary set forth in this
         Section 7(c), if, at any time, the Company makes any distribution
         pursuant to any plan of liquidation (a "LIQUIDATING DISTRIBUTION") on
         shares of Common Stock (whether in cash, property, evidences of
         indebtedness or otherwise), then, subject to applicable law, the
         Company shall make to the Holder the aggregate Liquidating Distribution
         which the Holder would have acquired if the Holder had held the maximum
         number of shares of Common Stock acquirable upon the complete exercise
         of this Warrant immediately before the Time of Determination of
         shareholders entitled to receive Liquidating Distributions.

         (d) NOTICE OF ADJUSTMENTS. Whenever the Exercise Rate and Exercise
Price per Security are adjusted, the Company shall promptly mail to the Holder a
notice of the adjustments. The Company shall also provide the Holder with a
certificate from the Company's independent public accountants briefly stating
the facts requiring the adjustments and the manner of computing it. The
certificate shall be conclusive evidence that the adjustments are correct,
absent manifest error.

         (e) REORGANIZATION OF COMPANY; FUNDAMENTAL TRANSACTION.

             (i) If (x) the Company shall reclassify its Common Stock (other
         than a change in par value, or from par value to no par value, or a
         subdivision or combination thereof), or (y) the Company, in a single
         transaction or through a series of related transactions, consolidates
         with or merges with or into any other person or sells, assigns,
         transfers, leases, conveys or otherwise disposes of all or
         substantially all of its properties and assets to another person or
         group of affiliated persons or is a party to a merger or binding share
         exchange which, in the case of any of the transactions referred to in
         this clause (y), reclassifies or changes its outstanding Common Stock
         (each of (x) and (y) above being referred to as a "FUNDAMENTAL
         TRANSACTION"), as a condition to consummating any such Fundamental
         Transaction, the Company, in the case of any such reclassification
         referred to in clause (x), or the person formed by or surviving any
         such consolidation or merger if other than the Company or the person to
         whom such transfer has been made in the case of clause (y) above (the
         "SURVIVING PERSON"), shall enter into a supplemental warrant agreement.
         The supplemental warrant agreement shall provide (a) that the Holder
         may exercise this Warrant for the kind and amount of securities, cash
         or other assets which the Holder would have received immediately after
         the Fundamental Transaction if the Holder had exercised this Warrant
         immediately before the effective date of the transaction, assuming (to
         the extent applicable) that the Holder (i) was not a constituent person
         or an affiliate of a constituent person to any transaction de-

<Page>

                                       -7-

         scribed in clause (y) above, (ii) made no election with respect to any
         transaction described in clause (y) above, and (b) in the case of any
         transaction described in clause (y) above, that the Surviving Person
         shall succeed to and be substituted to every right and obligation of
         the Company in respect of this Warrant. The supplemental warrant
         agreement shall provide for adjustments which shall be as nearly
         equivalent as may be practicable to the adjustments provided for in
         this Section 7. The Surviving Person or the Company, as applicable,
         shall mail to the Holder a notice briefly describing the supplemental
         warrant agreement. If the issuer of securities deliverable upon
         exercise of this Warrant is an affiliate of a Surviving Person, that
         issuer shall join in the supplemental warrant agreement.

             (ii) Notwithstanding the foregoing, if a Fundamental Transaction
         shall occur and, upon consummation of such Fundamental Transaction,
         consideration is payable to holders of shares of Common Stock which
         consideration consists solely of cash, assuming (to the extent
         applicable) that the Holder (i) was not a constituent person or an
         affiliate of a constituent person to a transaction described in Section
         7(e)(i)(y) above and (ii) made no election with respect thereto, then
         the Holder shall be entitled to receive distributions upon consummation
         of such Fundamental Transaction on an equal basis with holders of
         Common Stock as if this Warrant had been exercised immediately prior to
         such event, less the aggregate Exercise Price therefor; PROVIDED that
         the Company or the Surviving Person, as the case may be, may require
         the surrender of this Warrant to such person prior to making any such
         distribution to the Holder. Upon receipt of such payment, if any, the
         rights of the Holder shall terminate and cease and this Warrant shall
         expire.

             (iii) If this paragraph (f) applies, it shall supersede the
         application of paragraph (a), (b) or (c) of this Section 7.

         (f) OTHER EVENTS If any event occurs as to which the provisions of this
Section 7 are not strictly applicable or, if strictly applicable, would not, in
the good faith judgment of the board of directors of the Company, fairly and
adequately protect the rights of the Holder in accordance with the essential
intent and principles of such provisions, then such board of directors shall
make such adjustments in the application of such provisions, in accordance with
such essential intent and principles, as shall be reasonably necessary, in the
good faith opinion of such board of directors, to protect such rights as
aforesaid, but in no event shall any such adjustment have the effect of
decreasing the Exercise Rate or decreasing the number of Securities issuable
upon exercise of this Warrant or increasing the Exercise Price per Security.

         (g) COMPANY DETERMINATION FINAL. Any determination that the Company or
the board of directors of the Company must make pursuant to this Section 7 shall
be conclusive, absent manifest error.

         (h) SPECIFICITY OF ADJUSTMENTS. Regardless of any adjustments in the
number or kind of shares purchasable upon the exercise of this Warrant or the
Exercise Price per Security, this Warrant may continue to express the same
number and kind of Securities initially issuable pursuant to this Warrant and
the initial Exercise Price per Security as set forth in the first paragraph
hereof.

         (i) VOLUNTARY ADJUSTMENT. The Company from time to time may increase
the Exercise Rate and correspondingly decrease the Exercise Price per Security
by any number and for any period of time; PROVIDED, HOWEVER, that such period is
not less than 20 Business Days. Whenever the Exercise Rate is so increased and
the Exercise Price per Security is so decreased, the Company shall mail to the
Holder a notice thereof. The Company shall give the notice at least 10 days
before the date the increased Exercise Rate and decreased Exercise Price per
Security takes effect. The notice shall state the increased Exercise Rate and
decreased Exercise Price per Security and the period it will be in effect. A
voluntary increase in the Exercise Rate and

<Page>

                                       -8-

decrease in the Exercise Price per Security shall not change or adjust the
Exercise Rate or Exercise Price per Security otherwise in effect as determined
by this Section 7.

         (j) MULTIPLE ADJUSTMENTS. After an adjustment to the Exercise Rate and
Exercise Price per Security for this Warrant under this Section 7, any
subsequent event requiring an adjustment under this Section 7 shall cause an
adjustment to the Exercise Rate and Exercise Price per Security for this Warrant
as so adjusted.

         (k) WHEN DE MINIMIS ADJUSTMENT MAY BE DEFERRED. No adjustment in the
Exercise Rate or Exercise Price per Security shall be required unless such
adjustment would require an increase or decrease of at least 1% in the Exercise
Rate; PROVIDED, HOWEVER, that any adjustments which by reason of the foregoing
are not required to be made shall be carried forward and taken into account in
any subsequent adjustment. All calculations of the Exercise Rate shall be
rounded to the nearest whole number. All calculations of the Exercise Price per
Security shall be rounded to the nearest ten thousandth of one cent. No
adjustments need be made for a change in the par value of the Common Stock and
no adjustments shall be deferred beyond the date on which this Warrant is
exercised.

         (l) Notwithstanding any adjustment to the Exercise Price called for by
this Section 7, in no event will the Exercise Price per share of Common Stock be
adjusted to an amount that is less than the par value per share of the Common
Stock at the time of such adjustment, and if, but for the provisions of this
Section 7(l), an adjustment to the Exercise Price would be required under this
Section 7 that would result in an Exercise Price per share of Common Stock that
is less than the par value per share of the Common Stock, then the Exercise
Price shall be adjusted such that the Exercise Price per share of Common Stock
equals the par value of the Common Stock.

         (m) AMENDMENTS OF THE CERTIFICATE OF INCORPORATION. The Company shall
not amend its Certificate of Incorporation to increase the par value of any
Warrant Security such that such par value would exceed the Exercise Price per
share of such Warrant Security.

             8. NOTICES. Any notices or certificates by the Company to the
Holder and by the Holder to the Company shall be deemed delivered if in writing
and delivered personally or sent by certified mail or reputable overnight
courier, to the Holder, addressed as set forth in the Instructions for
Registration of Warrant delivered to the Company, which may be superseded from
time to time upon notice to the Company, and, if to the Company, addressed to
Designs, Inc., 66 B Street, Needham, Massachusetts, 02494, Attention: Chief
Financial Officer. The Company may change its address by written notice to the
Holder.

             9. LIMITATIONS ON TRANSFERABILITY. This Warrant may be divided or
combined, upon request to the Company by the Holder, into a certificate or
certificates evidencing the same aggregate number of Warrants. This Warrant may
not be offered, sold, transferred, pledged or hypothecated (i) in the absence of
an effective registration statement as to this Warrant and such transaction
filed under the Act, or an exception from the requirement of such registration,
and compliance with the applicable federal and state securities laws, (ii) in an
amount representing the right to purchase fewer than 140,000 shares of Common
Stock, and (iii) with the consent of the Company, which consent shall not
unreasonably be withheld. The Company may require an opinion of counsel
satisfactory to the Company that such registration is not required and that such
laws are complied with. The Company may treat the registered holder of this
Warrant as he or it appears on the Company's books at any time as the Holder for
all purposes. The Company shall permit the Holder or his duly authorized
attorney, upon written request during ordinary business hours, to inspect and
copy or make extracts from its books showing the registered holders of Warrants.

<Page>

                                       -9-

             10. TRANSFER TO COMPLY WITH THE SECURITIES ACT OF 1933. The Company
may cause the following legend, or one similar thereto, to be set forth on this
Warrant and on each certificate representing Warrant Securities, or any other
security issued or issuable upon exercise of this Warrant, unless (a) the
Company has received an opinion of counsel satisfactory to the Company as to any
such certificate that such legend, or one similar thereto, is unnecessary or (b)
a registration statement with respect to this Warrant and the Warrant Securities
has become effective under the Act.

         "THIS SECURITY HAS NOT BEEN REGISTERED FOR RESALE UNDER THE SECURITIES
         ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS AND
         MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE
         ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITY AND
         SUCH DISPOSITION FILED UNDER THE ACT, OR AN EXEMPTION FROM
         REGISTRATION, AND COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS. THE
         ISSUER MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER
         HEREOF THAT SUCH REGISTRATION IS NOT REQUIRED AND THAT SUCH LAWS ARE
         COMPLIED WITH."

             11. APPLICABLE LAW. This Warrant shall be governed by, and
construed in accordance with, the laws of the State of New York, without giving
effect to conflict of law principles.

             12. AMENDMENTS. This Warrant may not be amended except in a writing
signed by the Holder and the Company.

             13. SEVERABILITY. If any provisions of this Warrant shall be held
to be invalid or unenforceable, such invalidity or enforceability shall not
affect any other provision of this Warrant.

             14. CERTAIN DEFINITIONS. In addition to the capitalized terms
defined elsewhere in this Warrant, the following capitalized terms shall have
the meanings set forth below.

         "ACT" shall mean the Securities Act of 1933, as amended, together with
the rules and regulations promulgated thereunder.

         "AFFILIATE" of a person shall mean a person who directly or indirectly
through one or more intermediaries controls, or is controlled by, or is under
common control with, such person. The term "control" means the power to direct
or cause the direction of the management and policies of a person, whether
through the ownership of voting securities, by contract or otherwise.

         "CONVERTIBLE SECURITY" shall mean any security convertible into or
exchangeable or exercisable for Common Stock, including but not limited to,
rights, options or warrants entitling the holder thereof to acquire Common Stock
or any security convertible into or exchangeable for Common Stock.

         "CURRENT MARKET VALUE" per share of Common Stock of the Company at any
date shall mean:

             (1) if Common Stock is not then registered under the Exchange Act
         and traded on a national securities exchange or on the Nasdaq National
         Market System,

                 (a) the value of such Common Stock, determined in good faith by
             the board of directors of the Company and certified in a board
             resolution, taking into account the most recently completed
             arms-length transaction between the Company and a person other than
             an Af-

<Page>

                                      -10-

             filiate of the Company and the closing of which occurs on such date
             or shall have occurred within the six-month period preceding such
             date, or

                 (b) if no such transaction shall have occurred on such date or
             within such six-month period, the fair market value of the security
             as determined by a nationally recognized investment bank; PROVIDED,
             HOWEVER, that, in the case of the calculation of Current Market
             Value for determining the cash value of fractional shares, no such
             determination by an investment bank shall be required and the good
             faith judgment of the board of directors as to such value shall be
             conclusive, or

             (2) (a) if Common Stock is then registered under the Exchange Act
         and traded on a national securities exchange or on the Nasdaq National
         Market System, the average of the daily closing sales prices of such
         Common Stock for the 20 consecutive trading days immediately preceding
         such date, or

                 (b) if Common Stock has been registered under the Exchange Act
             and traded on a national securities exchange or on the Nasdaq
             National Market System for less than 20 consecutive trading days
             before such date, then the average of the daily closing sales
             prices for all of the trading days before such date for which
             closing sales prices are available,

         in the case of each of (2)(a) and (2)(b), as certified by the Chief
         Executive Officer, the President, any Executive Vice President or the
         Chief Financial Officer or Treasurer of the Company. The closing sales
         price of each such trading day shall be the closing sales price,
         regular way, on such day or, if no sale takes place on such day, the
         average of the closing bid and asked prices on such day.

         "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended, together with the rules and regulations promulgated thereunder.

         "GAAP" shall mean generally accepted accounting principles in the
United States as in effect on April 26, 2002.

         "ISSUE DATE" shall mean __________, 2002.

         "PERMITTED CASH DIVIDEND" shall mean any cash dividend in respect of
Common Stock that, together with all such dividends (other than dividends with
respect to which an adjustment has been made pursuant to Section 7(c)(i) or a
dividend which was also paid on a pro rata basis to the Holder as contemplated
by Section 7(c)(ii)) declared in respect of Common Stock during the previous
twelve months, on a per share basis, does not exceed 10% of the average closing
sales prices per share of the Common Stock for each trading day during such
twelve month period.

         "PRIOR DAY MARKET VALUE" per share of Common Stock of the Company at
any date shall mean:

             (1) if Common Stock is not then registered under the Exchange Act
         and traded on a national securities exchange or on the Nasdaq National
         Market System, the Current Market Value per share of Common Stock, or

             (2) if Common Stock is then registered under the Exchange Act and
         traded on a national securities exchange or on the Nasdaq National
         Market System, the closing sales price of Common Stock

<Page>

                                      -11-

         for the trading day ending immediately prior to the event causing the
         Prior Day Market Value to be determined.

         "TIME OF DETERMINATION" shall mean (i) in the case of any distribution
of securities or other property to existing shareholders to which Section 7(b)
or (c) applies, the time and date of the determination of shareholders entitled
to receive such securities or property or (ii) in the case of any other issuance
and sale to which Section 7(b) or 7(c) applies, the time and date of such
issuance or sale.

             15. REGISTRATION RIGHTS. In the event that the Holder gives notice
to the Company in accordance with Section 8 hereof of its irrevocable election
to exercise this Warrant and other warrants of the same series as this Warrant
held by such Holder to the extent of at least 280,000 shares of Common Stock and
requests that such shares issuable upon such exercise be registered under the
Act, the Company undertakes to prepare and cause to be filed with the Securities
and Exchange Commission within 30 days thereafter (provided the Company is then
eligible to effect such registration on Form S-3 or any successor form) a
registration statement under the Act relating to resales of such Common Stock by
the Holder, and shall use commercially reasonable efforts to cause such
registration statement to be declared effective within 45 days after such filing
and to keep such registration statement effective for 90 days or until such
earlier time as such Common Stock issued upon exercise has been sold by the
Holder pursuant thereto; PROVIDED, HOWEVER, that the Holder shall be bound (and
if requested by the Company shall confirm in writing that it is so bound) by
reasonable and customary terms for the provision of information by the Holder,
the suspension of sales in the event of material developments regarding the
Company, delays in registration in the event of any offering of securities for
the account of the Company, and other matters, all on substantially the same
terms as may be applicable in one or more cases to holders of other securities
of the Company having similar rights to request registration under the Act.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<Page>

             16. EFFECTIVENESS, ETC. Notwithstanding any other provision hereof,
(i) this Warrant shall not become exercisable unless and until the Company
consummates the Casual Male Acquisition as defined in the Note Agreement between
the Company and certain purchasers of the Company's 12% Senior Subordinated
Notes due 2007 (the "Note Agreement"), and (ii) this Warrant shall automatically
be rescinded, cancelled and of no further force and effect upon the occurrence
of a Mandatory Redemption Event (as defined in the Note Agreement). Capitalized
terms used, but not defined, in this Warrant shall have the respective meanings
ascribed to them in the Note Agreement unless the context otherwise requires.

                                          DESIGNS, INC.

                                          By:
                                             -----------------------------------
                                               Name: David A. Levin
                                               Title: President

Date: __________, 2002

Attest:

By:
    -------------------------------------
Name: Dennis R. Hernreich
Title: Chief Financial Officer

<Page>

                                  PURCHASE FORM

                                                       Dated ____________, 20__

         The undersigned hereby irrevocably elects to exercise this Warrant to
the extent of __________ shares of Common Stock.

         The undersigned has concurrently herewith made payment of $          in
payment of the aggregate Exercise Price.

         If the issuance of the Warrant Securities is not registered under the
Securities Act of 1933, as amended, the undersigned makes the representation and
warranty set forth in Section 1 of this Warrant.

                  INSTRUCTIONS FOR REGISTRATION OF SECURITIES

Name
     --------------------------------------------------------------------------
                  (please typewrite or print in block letters)

Address
        -----------------------------------------------------------------------

Signature
          ---------------------------------------------------------------------

                                 ASSIGNMENT FORM

         FOR VALUE RECEIVED,
                             ---------------------------------------------------
hereby sells, assigns and transfers unto

Name
     ---------------------------------------------------------------------------
                  (please typewrite or print in block letters)

Address
        ------------------------------------------------------------------------
the right to purchase shares of Common Stock as represented by this
Warrant to the extent of shares of Common Stock as to which such right is
exercisable and does hereby irrevocably constitute and appoint, ________________
attorney, to transfer the same on the books of the Company with full power of
substitution in the premises.

Signature
          ----------------------------------------------------------------------

Dated: _______________ 20 ____

<Page>

                    INSTRUCTIONS FOR REGISTRATION OF WARRANT

Name
     --------------------------------------------------------------------------
                  (please typewrite or print in block letters)

Address
        -----------------------------------------------------------------------

Signature
          ---------------------------------------------------------------------

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