Home / Knowledge / News / Apparel/Garments / Nitches signs definitive agreement to buy Home Décor Business

Nitches signs definitive agreement to buy Home Décor Business

28
Jun '06
Womenswear importer Nitches Inc has entered into a definitive agreement to acquire the Home Décor business of Taresha LLC as of July 1st 2006 in an all stock transaction.

Management expects the transaction to be immediately accretive to revenues and earnings in the fourth quarter of fiscal 2006 and beyond.

Nitches will acquire order backlog for Taresha Home Décor products of approx. $2.1 million, with an estimated $800,000 on order for shipment to customers by August 31st 2006, and the remaining $1.3 million for shipment during the first quarter of Nitches' fiscal 2007.

The Home Décor business had total sales volume of approx. $6.3 million for calendar year 2005 and is expected to exceed this total by 25 percent for calendar 2006. Traditionally almost 60 percent of Taresha's Home Décor volume is recorded in the second half of the calendar year.

Since 2002, Taresha has been designing, selling, importing, and distributing home décor products, primarily candles, candle accessories, bath décor accessories, picture frames, tabletop, and general glass décor, to many levels of distribution through company owned brands, licensed national brands, and retailer private label programs. Taresha's branded product lines include:

-- Michael Coffindaffer Home - Upscale designer candle and home decor accessory product with a 'sophisticated' point of view.
-- MC Home - Basic and seasonal candles and décor with an upscale flavor and many differentiated designs, fragrances, and fabrics.


Must ReadView All

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Textiles | On 17th Apr 2021

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Fibre2Fashion, the online platform for the global...

Pic: Shutterstock

Textiles | On 17th Apr 2021

China's economy grows 18.3% in Q1 2021

Powered by a strong domestic and foreign demand, China's economy grew ...

Pic: Shutterstock

Retail | On 17th Apr 2021

US retail sales saw strong rebound in March: NRF

As government cheques fattened consumers’ bank accounts and more...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Farmers who produce seeds earn 50 per cent more

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees 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

Leave your Comments


April 2021

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


Advanced Search