Home / Knowledge / News / Apparel/Garments / Canadian mens brand Samuelsohn acquires Hickey Freeman
Canadian mens brand Samuelsohn acquires Hickey Freeman
20
Jul '13
Samuelsohn, a premium menswear brand based in Montreal, announced  that it has agreed to acquire all of the tangible assets of US-based Hickey Freeman, including the factory, from W Diamond Group, and will enter into a 40-year license agreement for Hickey Freeman with brand owner, Authentic Brands Group. Terms of the transaction were not disclosed.

As part of the transaction, Samuelsohn CEO Stephen Granovsky, President and Chief Creative Officer Arnold Brant Silverstone and President and Chief Operating Officer Alan Abramowicz will expand their roles to include Hickey Freeman oversight and development.

"For 90 years Samuelsohn has been known and respected in the industry for producing the best quality suits in Canada. Likewise, Hickey Freeman has built a business and reputation over the last century producing the very best suits in the United States," said Stephen Granovsky, who is also CEO of Grano Retail Holdings ("Grano"), the owner of Samuelsohn. "Owning both of these best-in-class menswear businesses will be a dream come true."

"Hickey Freeman has great brand value and long term retail relationships, as well as an extremely productive factory and talented workforce," adds Arnold Brant Silverstone. "We believe that, working with Authentic Brands Group, we can bring the same creativity, discipline and energy to Hickey Freeman that we have brought to Samuelsohn over the last three years."

"We intend, first, to add to the stability, and second to drive growth," said Lawrence Pollack, Vice Chairman of both Grano and Samuelsohn. "We estimate that Hickey Freeman can grow by as much as fifty percent in the next three to five years.  The Rochester factory is a diamond in the rough."

"We are very proud to own Hickey Freeman and we are extremely excited about the growth opportunities that the Samuelsohn/Grano team brings to the brand," said Jamie Salter, CEO of Authentic Brands Group.

"We look forward to working with a progressive company such as Samuelsohn/Grano and we are thrilled about the prospects in the future," added Nick Woodhouse, President of Authentic Brands Group.

"Workers United, SEIU, and its members are very pleased with this transaction. We have excellent working relationships with Samuelsohn in Montreal and with W Diamond in Chicago and the Union looks forward to a bright future of stability and expansion of jobs in Rochester," said Noel Beasley, President of Workers United.

"I will always fight to strengthen and grow Hickey Freeman in Rochester and have been pleased to stand with the company and its workers so that this day could come," said Senator Schumer. "This union with Samuelsohn buttons together two of the finest North American suit makers and will grow jobs and bring new work to Hickey Freeman's Rochester workforce in a way that will stabilize and strengthen this storied Rochester institution for decades to come."

The acquisition announcement comes at the beginning of the Men's Spring 2014 Market Week in New York where Samuelsohn will be showcasing its newest collections to top retailers and media.  Samuelsohn also has another cause to celebrate—2013 marks the 90th Anniversary for the brand who will celebrate the milestone anniversary at a cocktail reception on July 21 during Market Week festivities.

Grano Retail Holdings


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search