Classic apparel brand to become first designer name in portfolio
22 Dec '06
3 min read
NexCen Brands Inc is pleased to announce that it has entered into a definitive agreement to acquire the Bill Blass Holding Co Inc, a designer apparel company known for its classic and timeless American style for both men and women. This acquisition will also include two subsidiaries owned by Blass, Bill Blass Licensing Co Inc and Bill Blass International LLC.
In addition, the Company has entered into a license agreement for men's and women's denim with Designer Licensing Holdings LLC (DLH), effective upon closing of the transaction. An affiliate of DLH will also acquire a 10% minority interest in the Company's Bill Blass trademark subsidiary.
Robert W. D'Loren, NexCen's President and Chief Executive Officer, stated: "Bill Blass is a lifestyle brand that represents the best of timeless and classic American design." He noted further, "We could not think of a more suitable brand for our portfolio that we expect will be a fashion icon for years to come." "This acquisition is an exciting opportunity for NexCen," Mr. D'Loren said in closing.
"This is a mutually beneficial opportunity for Blass and for our couture designer, Michael Vollbracht," said Michael Groveman, President and CEO of Blass. "We've spent years working with Bob D'Loren and look forward to working with him at NexCen. We anticipate a very successful endeavor, and one that will help to further enhance the Bill Blass brand," Mr. Groveman said.
Haresh Tharani, Chairman of Blass stated that he was very pleased with the transaction and the opportunity to become a shareholder in NexCen. Tharani, who is also Chairman of the Tharanco Group and Resource Club, LTD, stated that as part of this transaction DLH will be assuming the license for denim products and will start shipping as of fall 2007. Resource will continue to ship product until that time.
marketing@alchempro.com
