Randa Accessories Leather Goods LLC’s dominance in the men’s accessories category took another step forward Friday with its agreement to acquire and take private longtime competitor Swank Inc. for $10 a share, or about $57.5 million.
The deal, expected to close in the second quarter following Swank shareholder and standard regulatory approvals, would create an accessories powerhouse with more than $600 million in annual sales. Randa, believed to be the largest men’s accessories firm in the U.S. with 2011 sales of $450 million, is privately held with highly developed global businesses in neckwear, luggage and leather goods. Swank, which had revenues in the 12 months through September of $136.7 million, is publicly held and traded on the pink sheets. Its business is less diverse geographically, with about 7 percent of volume coming from Europe and Central and South America, and focused on men’s leather goods and costume jewelry.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)