Phillips-Van Heusen Corporation announced that it has completed the acquisition of substantially all of the assets of privately-held Superba, Inc, a leading manufacturer and distributor of neckwear in the United States and Canada.
The acquired business, which includes neckwear licenses for many well-known designer and brand names, such as Arrow, DKNY, Tommy Hilfiger, Nautica, Perry Ellis, Ted Baker, Ike Behar, Michael Kors, JOE Joseph Abboud, Original Penguin, Jones New York and Hart Schaffner Marx, will be operated through the newly formed PVH Neckwear Group.
PVH also announced that it has entered into an agreement with Mallory & Church LLC pursuant to which PVH and Mallory have agreed to the early termination of the neckwear licenses that Mallory holds for PVH's IZOD and Calvin Klein brands.
The PVH Neckwear Group will assume control of the Calvin Klein and IZOD neckwear businesses and the neckwear offerings will continue to be distributed through better department stores and specialty stores. The arrangement is expected to become effective in early February.
Commenting on the transactions, Emanuel Chirico, Chief Executive Officer of PVH, stated "We are excited with the opportunity the Superba acquisition presents. Neckwear is, obviously, complementary to our heritage business in dress shirts and Superba has followed the same multiple brand, multiple channel, and multiple price point strategy that we have followed. We believe that the synergy created by coupling the leading neckwear and dress shirt businesses will provide us with additional opportunity to grow both businesses."
Mr. Chirico added, "We are also pleased that we have been able to provide for the early return of the Calvin Klein and IZOD neckwear businesses. This will provide us with an immediate opportunity to expand our newly acquired neckwear business and enhance the growth we expect to see from it."
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
