SOS BUYS BUM: SOS Management has completed the purchase of worldwide rights of BUM Equipment trademarks, confirming a report in WWD on Wednesday. For a purchase price of $25 million, the company, headed by chairman Stephen Wayne and vice chairman Steve Marra, has purchased the BUM Equipment and all other related trademarks in connection with the company formerly known as BUM International Inc. The new company’s name will be BUM Equipment LLC and will be based in Mendham, N.J. The showroom will continue to be based in Hilton Head, S.C.
This story first appeared in the December 20, 2002 issue of WWD. Subscribe Today.
MINING MALO: Italy’s IT Holding announced Wednesday that Stefano Ferro has been appointed Malo’s chief executive officer. The 50-year-old Italian will oversee operations for the IT Holding-controlled, luxury cashmere brand and spearhead strategies for collection diversification, including accessories, and overall production and distribution of the label. Ferro worked previously at GFT women’s division, Bally and Genny.
DUPONT’S TITUS TO RETIRE: Alan R. Titus, a DuPont vice president who was instrumental in two reorganizations of the Wilmington, Del.-based company’s textile portfolio, plans to retire by the end of the year, according to a company statement. Titus, 62, has been with DuPont for 37 years and worked on projects including the integration of the ICI nylon business into DuPont in the early Nineties, following DuPont’s acquisition of that operation. He currently leads the corporate team that is setting up DuPont Textiles & Interiors as a stand-alone company, in preparation for its expected spin-off from the company. He will be replaced by Diana T. Smith, who is leading the financial component of that project, said a spokesman.