David Peyser Sportswear Inc., known for its Weatherproof brand of men’s and women’s outerwear, has acquired women’s outerwear brand Junior Gallery Ltd.
This story first appeared in the March 6, 2012 issue of WWD. Subscribe Today.
The acquisition price is not being disclosed. Gallery will remain at its current offices at 463 Seventh Avenue in Manhattan, and will be operated as an independent division of David Peyser.
Eliot Peyser, chief executive officer of David Peyser, said, “Junior Gallery is a leading brand name of women’s coats and outerwear with an unparalleled track record of brand recognition, dedication to consumer value and a relentless pursuit of quality — all attributes that we have been committed to for over 64 years.”
David Peyser has hired Susan Maroney as president of the Gallery business, effective March 15. Maroney has more than 20 years experience at May Merchandising, with her most recent post as divisional vice president for coats, dresses and suits. She has had a previous stint at Gallery as merchandise manager, a position she held for two-and-a-half years before taking on a leadership role at a nonprofit.
The brand was owned by three shareholders, and became part of an estate sale upon the passing of one of them. Allan Ellinger, senior managing partner of Marketing Management Group, was the financial adviser appointed by the court to find a buyer when the estate and the remaining two shareholders couldn’t come to an agreement on valuation.
According to Ellinger, the sale process began in mid-August. There were seven bids. One was from one of the two surviving shareholders. Of the remaining six bidders, one was a publicly held company and the rest were privately held firms. “The brand is still highly respected. Even though sales had declined during the dispute, it is still a viable business,” Ellinger said.