NEW YORK — London Fog Industries Inc. has a new direction.
The outerwear firm, which includes the London Fog and Pacific Trail brands, is folding the home-textile business of Homestead Fabrics into its operations. London Fog on Wednesday denied that it had been sold, but investment bankers said that it was acquired by Homestead, a bondholder of London Fog.
Homestead, which was a subsidiary of Manchester, England-based Broome & Wellington, is the home-textile business run by David Greenstein.
Homestead will now operate as HHI Homestead Holdings Inc., a wholly owned subsidiary of London Fog Industries.
London Fog on Wednesday said Greenstein, a 20-year textile industry veteran, will be its new chief executive officer. Greenstein will also assume a board seat at London Fog.
During his tenure at Homestead, where he was president, Greenstein took the company from a start-up to a $100 million business in six years, primarily through sales of acquired private label home products, London Fog said.
One of those acquisitions was the Guilford Home Fashions division, which Guilford Mills sold in 2002. Although Homestead still uses the Guilford brands and licenses of the division, its manufacturing and distribution operations were shut down following the purchase.
London Fog’s operations will be divided between New York and Seattle. The London Fog trade division and London Fog Factory Outlet Stores will consolidate into current operations.
As part of the changes at London Fog, its newly appointed creative director Stacy Haase is expected to put in place a new design team. Haase, a Rhode Island School of Design graduate, has her own contemporary ready-to-wear line under the brand name Stacy Haase. London Fog said that it plans to merge the Haase line into its portfolio of brands.
Other brands under the London Fog umbrella include Black Dot and Moonstone, and the Dockers licensed brand.