Home / Knowledge / News / Fashion / FGX International buys Corinne McCormack
FGX International buys Corinne McCormack
30
Oct '09
FGX International, a leading designer and marketer of non-prescription reading glasses and sunglasses, announced that it has acquired Corinne McCormack, Inc. , a privately held company located in New York City.

CMI was founded by Corinne McCormack in 1993 and designs and markets a collection of eyewear and accessories under the Corinne McCormack brand name. CMI products are sold to better specialty and department stores and are found in over 2,000 locations. Leading CMI retailer partners include Bloomingdale's, Lord & Taylor and LensCrafters.

Alec Taylor, CEO of FGX International commented, “The acquisition of CMI strengthens our competitive position in the over-the-counter reading glasses category by taking us into higher end channels and adding the fashion-forward styling that Corinne McCormack is known for. We believe that by investing in the marketing and distribution of this brand, we can increase CMI's share of the designer reading glass market. Also, we plan on utilizing Corinne's substantial capabilities with our existing accounts where fashionable offerings are becoming increasingly important.”

Corinne McCormack has over 15 years of experience in the eyewear category and prior to that 15 years experience in wholesaling and retailing accessories. She will serve as Vice President-Fashion Director of FGX International.

FGX International acquired CMI in exchange $1.45 million in cash. The purchase also includes a related e-commerce company, Eye-Bar Inc. For the fiscal year ended December 31, 2008, CMI had net revenues of approximately $2 million.

FGX International expects CMI to have no significant impact on 2009 earnings and to be modestly accretive in 2010.

FGX International Holdings Limited is a leading designer and marketer of non-prescription reading glasses and sunglasses with a portfolio of established, highly recognized eyewear brands including Foster Grant, Magnivision, Angel, Gargoyles, Anarchy, SolarShield and PolarEyes. FGXI also holds licenses for brands such as Ironman, Levi Strauss, Body Glove and C9 by Champion. Based in Smithfield, Rhode Island, FGXI has approximately 375 full time employees. Additional offices are located in San Luis Obispo, CA; Toronto, Canada; Stoke-on-Trent, England; Mexico City, Mexico; and Shenzhen, China.

FGX International Holdings Limited


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Bani Batra

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

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.0%
No
13.0%
Skip
17.0%

Total Votes: 100

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.0%
No
30.0%
Skip
7.0%

Total Votes: 100

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.0%
No
9.0%
Skip
3.0%

Total Votes: 100

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.0%
No
8.0%
Skip
9.0%

Total Votes: 100


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search