NEW YORK — NexCen Brands Inc. said Wednesday that it inked a $54.6 million cash and stock deal to acquire Bill Blass Holding Co. Inc.. The announcement confirmed a report in WWD.

"This acquisition will also include two subsidiaries owned by Blass, Bill Blass Licensing Co. Inc. and Bill Blass International LLC," NexCen said in a statement. "In addition, the company has entered into a license agreement for men's and women's denim with Designer Licensing Holdings LLC...effective upon closing of the transaction. An affiliate of DLH will also acquire a 10 percent minority interest in the company's Bill Blass trademark subsidiary."

Robert W. D'Loren, NexCen's president and chief executive officer, said in a statement, "Bill Blass is a lifestyle brand that represents the best of timeless and classic American design. We could not think of a more suitable brand for our portfolio, [one] that we expect will be a fashion icon for years to come."

Michael Groveman, president and ceo of Blass, said the transaction was a "mutually beneficial opportunity" for the company and its designer, Michael Vollbracht.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus