Home / Knowledge / News / Apparel/Garments / Oxford completes sale of Ben Sherman business
Oxford completes sale of Ben Sherman business
21
Jul '15
Apparel company Oxford Industries, Inc. has announced that it has completed the sale of 100 per cent of the equity interests of its Ben Sherman business, for a purchase price of £40.8 million ($63.7 million), to Ben Sherman UK Acquisition Limited and Ben Sherman US Acquisition, LLC, both of which are backed by Marquee Brands LLC, Oxford said in a press statement.

Thomas C. Chubb III, Oxford's chairman and CEO, said, "We truly appreciate the efforts of our Ben Sherman associates. Their dedication and enthusiasm for this iconic brand was clearly communicated to potential buyers, and was a critical component of this successful sales process. It has been a pleasure working with Marquee Brands to quickly culminate this transaction, which we believe will benefit both companies. Looking forward, with the strength of our Tommy Bahama and Lilly Pulitzer brands, Oxford is well-positioned to continue to generate long-term value for our shareholders."

Oxford said it expects to receive net cash proceeds, after transaction fees and expenses, of approximately $58 million and also expects to incur a one-time, non-cash loss on sale of discontinued operations. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Suresh Patel
Sidwin Fabric

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

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

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search