Phoenix Footwear buys out Paradise Shoe Company LLC
05 Aug '05
4 min read
James R. Riedman, Chairman of Phoenix Footwear, commented, "Today's acquisition and licensing agreement adds another profitable lifestyle brand with strong brand recognition to their wearables portfolio. It is a perfect strategic fit with their recent Chambers Belt acquisition, providing us an up market lifestyle brand for independent specialty and better department store distribution. Working with Michael Reina, they seek to leverage their established merchandising, sales and marketing resources to increase the brand's distribution and enhance its revenue and profit potential."
“They are very excited to have this opportunity to work with Phoenix Footwear as their licensee," commented Tony Margolis, CEO of Tommy Bahama. "All licensed products are crucial to us showing the Tommy Bahama lifestyle to its fullest. Phoenix will bring the same vision and quality to their products that they have in their sportswear and I am confident the market will respond well."
California based Phoenix Footwear Group Inc develops and markets a diversified selection of men's and women's dress and casual footwear, belts, personal items, outdoor sportswear and travel apparel.
The Company's moderate-to-premium priced brands include the Trotters, SoftWalk, Strol, H.S. Trask, and Altama footwear lines, and the Chambers accessory and Royal Robbins apparel lines.
Emphasizing quality, fit and traditional and authentic designs, these brands comprise over 100 different styles of footwear, 750 styles of personal accessories, and over 250 styles of apparel products, primarily sold through department stores, specialty retailers and catalogs. Phoenix Footwear Group Inc is traded on the American Stock Exchange under the symbol PXG.
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