Luxury Men’s Apparel Group, owner of Hickey Freeman and Samuelsohn, continues to expand its reach in the upscale men’s wear market.The Toronto-based company has acquired Lipson, a top Canadian dress shirt company that produces both branded and private label merchandise. Terms were not disclosed.Lipson’s top customers are Harry Rosen and Holt Renfrew in Canada. Stephen Granovsky, chief executive officer of LMAG, said the plan is to quickly develop the brand in the U.S. market.“Lipson is very well known in Canada and by industry insiders,” he said. “But it’s not a significant brand in the U.S.”Granovsky said LMAG has been seeking to buy a dress shirt brand with its own manufacturing capabilities for at least two years but several deals failed to come to fruition. Lipson, which was founded in 1958 by Ted Lipson and is being run by the third generation of the family, was seeking an exit strategy and LMAG came around at the right time.Lipson has a factory in Toronto that employs more than 60 artisans and machine operators. Granovsky said LMAG will invest “significant cap ex” in the factory to improve its operation and efficiency. Once that is completed, Lipson’s European cotton dress shirts will be aggressively marketed in America under its own name as well as a private label producer. “It’ll probably take three to six months,” he said. “So we’ll have a soft launch in July, but it’ll really take until January for fall 2018 sales.”Lipson shirts retail for $175 to $225, but Granovsky said the prices will be lowered to the “$150 to $175 range” in order to gain market share. The primary competitor is Eton, he said, whose dress shirts dominate the luxury market and retail for around $250 and up.In addition, Lipson will produce dress shirts for Hickey and Samuelsohn. “We want to further develop our core brands and control what they look like,” he said. “We were attracted to Lipson because they have a relatively updated factory from an equipment perspective and they’re in Toronto, which gives us an advantage in the U.S. since the Canadian dollar is weak right now.”He said Lipson has sales of around $5 million today and “we think it can be $15 million to $20 million at wholesale in the next few years,” he said.In addition to expanding LMAG’s own brands, Lipson will be the primary supplier to Trunk Club for its custom shirt offering, he said, a contract that would cover some 30,000 to 40,000 units. Hickey Freeeman’s factory in Rochester, N.Y., recently inked a deal to produce custom tailored clothing for the Nordstrom-owned division.The Lipson family will not be involved with the brand going forward, Granovsky said. Instead, Paul Lindzon has joined the company as an investor and will serve as president. In addition, D’Arcy St.Pierre, formerly a senior executive at ShirtFit, will join Lipson as executive vice president. Lui Sguazzin has remained with the brand and has been promoted to vice president of sales.The Lipson acquisition is one of several Granovsky expects to make in the next few years. “As tough as this market is in retail, it’s great for the acquisition business,” he said. “This is the most deal flow I’ve seen in years.”He said the criteria for LMAG to make a deal is that the brand must be focused on North America, produce men’s clothing or sportswear and be positioned at the luxury end of the market. Top candidates would be brands with their own factories, those that specialize in shirts or the direct-to-consumer custom clothing business. “We don’t want to get too far afield,” he said.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)