DUPONT’S NORTHERN DEAL: DuPont on Wednesday said it offered to pay $1.4 billion to acquire the outstanding shares of DuPont Canada, of which it already owns 76 percent. It’s one of the last housekeeping steps Wilmington, Del.-based DuPont has to do to prepare for the spinoff or sale of DuPont Textiles & Interiors, which the company has said it aims to complete by the end of the year. DTI’s U.S. operations already operate as a stand-alone unit within the company. DuPont has said it is considering a number of ways to spin off DTI, including an initial public offering if market conditions permit. However, as reported, the company is also said to be in talks with other private investors, including Koch Industries, which owns KoSa — DuPont’s former polyester operation.
This story first appeared in the March 20, 2003 issue of WWD. Subscribe Today.
VIYELLA SOLD — AGAIN: Viyella, the traditional U.K. clothing brand that targets women over 50, has been sold to the knitwear manufacturing company Harris Watson Holdings for an undisclosed sum, confirming reports in these pages. A spokeswoman for Harris Watson confirmed the sale, but declined further comment. As reported, Richard Thompson, of Riverhawk Investments, bought the Viyella and Jaeger brands from Coats PLC in January with an eye to flipping them. Earlier this month, he sold Jaeger to the textile entrepreneur Harold Tillman, owner of Baird Menswear Brands. Thompson could not be reached for comment on Wednesday.
STEPPING OUT WITH VANDERBILT: The Amerex Group has wrapped up a licensing deal with Jones Apparel Group to produce a line of outerwear and rainwear under the Gloria Vanderbilt and GLO label. Howard Grossman, president of Amerex’s women’s division, is heading up the new venture. The license had been held by Fleet Street, but was ended last May. The 20-piece collection of peacoats, anoraks, down jackets and walking coats is now being shown at the Amerex showroom at 512 Seventh Avenue in New York. Wholesale prices range from $30 to $60. Grossman declined to give a projected volume, but said the Vanderbilt lines are expected to be carried by at least 20 department, specialty and mass market stores this fall. Amerex also produces the Jones New York outerwear line under license.