NexCen acquires Bill Blass, tailored clothing supplier
17 Feb '07
2 min read
NexCen Brands Inc announced that it has completed its acquisition of Bill Blass Holding Co Inc ('Blass'), a designer apparel company known for its modern and timeless American style for both men and women. This acquisition includes two subsidiaries owned by Blass, Bill Blass Licensing Co Inc and Bill Blass International LLC.
In addition, Designer Licensing Holdings LLC ("DLH") has entered into a new license with NexCen for men's and women's denim. An affiliate of DLH has also acquired a 10% minority interest in the Company's Bill Blass trademark subsidiary.
NexCen's President and Chief Executive Officer, Robert W. D'Loren, offered his commentary: "Bill Blass is such an exciting acquisition for our consumer branded products vertical, and presents a strong growth opportunity for us. We have exciting plans for Bill Blass which we intend to implement immediately," he continued.
Blass recently completed their first runway show for New York's Fashion Week, working in tandem with NexCen's management team. The collection has been prominently featured in industry publications and the mainstream press due to the creative genius of couture designer Michael Vollbracht and the label's following among "A-list" celebrities and socialites.
As previously announced, NexCen paid $54.6 million at closing through a combination of cash and the issuance of NexCen common stock. The stock component was 28% or $15.5 million of the initial purchase price.
NexCen Brands Inc is the premier 21st century brand acquisition and management company focused on assembling a diversified portfolio of intellectual property (IP) centric companies operating in the consumer branded products and franchise industries. NexCen owns and franchises The Athlete's Foot brand worldwide as well as the global rights to Bill Blass, a designer apparel brand.
Bill Blass defines timeless American style. Founded by William Ralph Blass in the 1970's, Bill Blass from its inception offered women modern, sophisticated, tailored clothing. The company's reputation was built on elegant designs executed in the finest fabrics.
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