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| Fashionology to acquire Ellen Tracy & CJ Apparel | | Thursday, April 10, 2008 (USA) |  |
An investment group led by Windsong Brands LLC and Hilco Consumer Capital, along with Radius Partners and the private investment office of Barry Sternlicht, announced the formation of Fashionology Group LLC (Fashionology) to acquire the Ellen Tracy brand and all associated assets from Liz Claiborne Inc. Fashionology will own Ellen Tracy LLC, a newly-formed company that will operate the core Ellen Tracy bridge sportswear business.
William Sweedler, Chairman & CEO of Windsong Brands, and Jamie Salter, CEO of Hilco Consumer Capital, will serve as co-chairmen of Fashionology, which will have a broad array of advisors and investors, including Marvin Traub, Barry Sternlicht, David Lipman and several other soon-to-be-named industry veterans. A new CEO and Creative Director for Ellen Tracy will also be announced in the near future. Marvin Traub will be chairman of Ellen Tracy LLC.
Mr. Traub stated, "I am delighted to be part of the new Ellen Tracy and working with Bill and Jamie. I believe we have a great opportunity to restore the company to its prominence in the evolving Bridge sector."
Bill Sweedler added, "Our goal is to pay tribute to the original DNA of Ellen Tracy and bring back the greatness from the Linda Allard Era. In addition, our new partners, Jamie Salter and the Hilco Consumer Capital team, are certain to add great value to the brand-building process as evidenced by their early success at Halston. We are all looking forward to working with our highly-experienced board and advisory team."
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