NEW YORK — Vergier Holdings LLC has acquired Norwalk, Conn.-based leather goods firm Ghurka for an undisclosed sum.
This story first appeared in the March 3, 2003 issue of WWD. Subscribe Today.
This is the first acquisition for the holdings company founded three months ago by Abe Chehebar, chairman and chief executive officer of Accessory Network Group. Chehebar, who holds the same title for Vergier, started the firm to invest in upscale brands with an emphasis on accessories. Vergier and Accessory Network operate separately.
“We believe there is a big opportunity in the marketplace to develop and invest in recognized and respected brands in the luxury segment, primarily in the bag and accessories arena,” said Chehebar, who declined to disclose Ghurka’s annual sales volume.
Ghurka was founded in 1975 by Marley Hodgson, and offers travel, home and sporting leather goods and accessories. Besides its flagships in New York at 41 East 57th Street and San Francisco at 170 Post Street, Ghurka is sold in select specialty stores in the U.S., Europe and Japan. Chehebar said the company is looking to open a Manhattan showroom in the near future.
“Our plans for Ghurka are…to invest in marketing and advertising for the brand, to expand its retail presence in other parts of the country and to work with luxury retailers to expand the representation of Ghurka products,” Chehebar said.