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

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search