Home / Knowledge / News / Apparel/Garments / Rafaella addition represents a great opportunity for Perry Ellis
Rafaella addition represents a great opportunity for Perry Ellis
29
Jan '11
Perry Ellis International completed its previously announced acquisition of substantially all of the assets of Rafaella Apparel Group Inc an entity controlled by affiliates of Cerberus Capital Management, L.P. Before final net working capital adjustments to the closing balances, the transaction purchase price is $80 million, which includes approximately $20 million of working capital in addition to warrants to purchase 106,564 shares of common stock issued to Rafaella. The Company funded the acquisition through its senior credit facility.

“The addition of Rafaella represents a great opportunity for us, and we are very pleased to have acquired a brand that we believe is so well positioned to take advantage of the many opportunities in the women's apparel arena today,” commented George Feldenkreis, chairman and chief executive officer of Perry Ellis. “As we become a more significant player in the women's space, we will be aggressively pursuing several growth avenues to ensure that we continue diversifying our business model and delivering strong results this fiscal year,” continued Mr. Feldenkreis.

The Company currently estimates that total revenue derived from the Rafaella assets during fiscal 2012 will be approximately $120 million. In addition, the acquisition of the Rafaella assets is currently expected to be accretive to fiscal 2012 earnings per share by approximately $.40.

“We are excited not only about the potential for product extensions and synergies throughout our existing brands Laundry by Shelli Segal and C&C California, but for the significant talent that this new team brings to the Perry Ellis International family,” commented Oscar Feldenkreis, president & chief operating officer of Perry Ellis. “With the addition of Rafaella, women's & contemporary now becomes a much more significant part of our overall business.

Perry Ellis International Inc

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Steve Cole
Xerium Technologies

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

Robert Brunner
Devereux

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
May 2017

May 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