By  on February 22, 2017

Strong Suit, an Arkansas-based tailored clothing brand, has been purchased by Oxford Industries. Terms were not disclosed since the deal is not large enough to be material to the publicly traded company's results, according to Tom Chubb, Oxford's chief executive officer.Oxford's Lanier Clothes tailored clothing division had been manufacturing Strong Suit's collection, according to founder Jamie Davidson, who said the business was at the point where it was seeking additional financing to grow."We have been in a phase where our growth was dramatic, so we either had to raise $10 million to pay for infrastructure, or look for the opportunity to be acquired by someone who already had the infrastructure in place," Davidson said. "So that's what we did."Davidson, who now serves as creative director for the brand and reports to Wesley Howard, president of Lanier, said with the strong back-office capabilities of his new parent company, Strong Suit can continue to expand its reach.Strong Suit was launched three years ago to provide tailored suits and sport coats targeted to a Millennial customer at a reasonable price. Suits average $600 or less at retail and the line is sold at Nordstrom and specialty stores including Boyds in Philadelphia and M Penner in Houston.Davidson said that as a result of Oxford’s ownership and support, the brand can now concentrate on its social media, marketing and e-commerce operations while also increasing the options available in its clothing range.He said Strong Suit’s headquarters will remain in Little Rock, Ark.Oxford Industries owns the Tommy Bahama and Lilly Pulitzer brands. Last April it acquired Southern Tide, a casual sportswear brand best known for its Skipjack Polo shirt, for $85 million.

To continue reading this article...

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus