Home / Knowledge / News / Apparel/Garments / Hampshire adds apparel brand Gramicci to portfolio
Hampshire adds apparel brand Gramicci to portfolio
02
Jul '14
Hampshire Group, Limited announced that it entered into a license agreement with Gramicci, a California-based hiking and climbing-inspired brand owned by Hampshire Group’s Chief Executive Officer, Paul Buxbaum. The three-year agreement provides Hampshire with licensing rights to design, develop and produce Gramicci brand men’s and women’s apparel, which is sold in retailers, as well as through its ecommerce website.
 
"Gramicci is an excellent new addition to Hampshire's portfolio,” commented David Price, Hampshire’s Chief Operating Officer. “The brand is well known among outdoor enthusiasts and advances our strategy of diversifying our product offering, distribution channels and customer base. We expect both gross and operating margins generated by the Gramicci business to exceed the brand’s historical levels as its profitability benefits from operating leverage on Hampshire’s infrastructure and sourcing expertise.”
 
Benjamin Yogel, Hampshire Group’s Lead Director, stated, “The Board of Directors of Hampshire is aware of the potential conflict of interest presented by Paul Buxbaum’s ownership of Gramicci and has taken several measures to protect the interests of Hampshire’s shareholders.
 
"First, the license was reviewed and negotiated by a committee of independent Hampshire directors. Secondly, the Company has the right to terminate the agreement at any time without penalty after providing notice of 120 days. Additionally, Paul Buxbaum will be recused from all non-operating decisions relating to Gramicci. Finally, the royalty rate associated with the license has been structured to be paid based on Gramicci’s profit contribution, which we expect to grow and add to the value of the Company.”
 
Hampshire, along with its wholly-owned subsidiaries, Hampshire Brands, Inc. and Rio Garment S.A., is a provider of fashion apparel across a broad range of product categories, channels of distribution and price points. The Company specializes in designing and marketing men’s sportswear to department stores, chain stores and mass market retailers under licensed brands, our own proprietary brands and the private labels of our customers. The Company operates a Honduras-based apparel manufacturer, designing, sourcing and manufacturing knit tops for men, women and children.
 

Hampshire Group

Must ReadView All

Textiles | On 24th Sep 2016

GST Council sets exemption limit at Rs 20 lakh

The GST Council has decided to exempt businesses from the Goods and...

Apparel/Garments | On 24th Sep 2016

DGFT adds new service providers in EPCG scheme

Providing great relief to the job working units in garment clusters...

Apparel/Garments | On 24th Sep 2016

Niti Aayog kicks off Indian ecommerce policy review

A Niti Aayog committee set up for the purpose, held deliberations...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

Manfred Mentges
Sedo Treepoint GmbH

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search