Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Fashion / FGX International buys Corinne McCormack
FGX International buys Corinne McCormack
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

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Pierre Wiertz, EDANA

Pierre Wiertz

EDANA, the international association serving the nonwovens and related...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

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

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

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

September 2018

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

news category

Related Categories:

Advanced Search