By  on July 15, 2008

NexCen Brands Inc. has tightened its grip on the Bill Blass business it’s trying to sell with the acquisition of Bill Blass Couture, the firm responsible for the ready-to-wear collections presented under the late designer’s name.

NexCen acquired the business from Michael Groveman and Carly Andrews Inc. for $425,000 in net liabilities. It agreed to forgive the acquired firm’s obligation to repay about $950,000 lent during the first quarter of this year to support marketing expenses and released Groveman from a three-year non-compete provision dating to NexCen’s acquisition of the Blass brand in February 2007.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus