HMX Group — while still in turnaround mode — expects to turn a profit this year, with plans to eventually become a $1 billion business.
“We are in the bottom of the eighth inning,” Doug Williams, chief executive officer, told Men’s Week when asked how far along the turnaround road the former Hartmarx Corp. has traveled since being acquired out of bankruptcy by Indian firm S. Kumars Nationwide Ltd., or SKNL, in August 2009. London-based Emerisque Brands holds a minority stake. The transaction was a $105 million debt and assumed liability deal. Since the acquisition, “we’ve paid down $35 million of debt,” Williams said.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)