Alex Apparel announces acquisition of SL Fashions

SL Fashions, headquartered in New York City, was founded in the 1970s by Steve Grabow. In addition to being sold in leading department stores, the company also produces private-label products and is known by its customers for quality, value and reliability.

"We currently design dresses for women seeking sophisticated and classic eveningwear at affordable prices who shop primarily in the department store channel. Our two companies and cultures are very compatible and the addition of SL to the Alex family of brands will allow us to rapidly scale our businesses and develop new markets across the entire value-priced segment of social occasion eveningwear. In addition, SL will enable us to further develop important sales channels, including e-commerce, specialty chains, and boutiques," said Colleen Kelly, chief executive officer of Alex Apparel.

Mitchell Grabow, president of SL Fashions, will continue in that role and also become executive vice president of business development for Alex Apparel.

"Alex and SL both focus on designing a classic aesthetic, but at non-competing price points. I look forward to working with Colleen and the team at Alex to focus on a number of exciting growth initiatives that will dramatically develop the business globally," said Grabow.

"Colleen and her team have greatly strengthened the relationship with many of the company's key customers, making Alex Evenings a leader in the classic eveningwear market. We are pleased with the company's continuing improvements and we are very excited about the growth opportunities that will come from the acquisition of SL Fashions," said Peter Shabecoff, managing partner of Atlantic Street Capital, which acquired Alex in 2011. (KD)

ALCHEMPro News Desk – India