Home / Knowledge / News / Fashion / Perry Ellis to combine C&C & Laundry Opts with Penguin
Perry Ellis to combine C&C & Laundry Opts with Penguin
Jan '08
Perry Ellis International announced that it has entered into a definitive agreement for the acquisition of the C&C California and Laundry brands from Liz Claiborne Inc. for $37 million subject to inventory adjustment.

The acquisition will be financed through existing cash and borrowings under the Company's existing credit facility. The Company expects to close the acquisition, subject to receipt of customary government approvals and other customary conditions, by February 4th.

"These acquisitions, which advance Perry Ellis International's growth strategy with two strong brands, with a very young following," said George Feldenkreis, chairman and chief executive officer.

"The addition of C&C California and Laundry will allow us to aggressively pursue women's apparel in the contemporary segment, which is the fastest growing one of the women's market today. With this acquisition, we increase our long term growth potential and mark another key milestone in our Company's history."

Contemporary Brands to Add Over $60 Million in Annual Revenues.

Subject to completion of the transaction, Perry Ellis International will combine its C&C California and Laundry operations with the Original Penguin brand to create a new Contemporary Business Platform. The combined additional annual revenues for Fiscal 2009 of these two brands are expected to be approximately $60 million.

Reflecting the high growth potential for Original Penguin, C&CCalifornia and Laundry, the contemporary brand revenues should increase at a double digit annual rate over the next five years. The acquisition will have no impact on Fiscal 2008, and accretion in the range of $0.08 to $0.10 is expected in Fiscal 2009.

Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Tom Adeyoola

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

Lynda Kelly
Suominen Corporation

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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


Letter To Editor

(Max. 8000 char.)

Search Companies


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