SAG HARBOR IP ASSETS FOR SALE: Kellwood Co. has put the Sag Harbor intellectual property and related assets up for sale. Hilco Streambank has been hired to sell the apparel brand.
Kellwood has hired Hilco Streambank before as a selling agent, when it put up for sale its Lamb & Flag and Koret brands.
This story first appeared in the January 22, 2015 issue of WWD. Subscribe Today.
Sag Harbor was once a moderate powerhouse brand for Kellwood, and was sold in most major mid-tier department stores. The company tried to revitalize it as a lifestyle label in 2009. The brand is sold at Kohl’s, Sears, Ross Stores, Stage Stores, Bealls and Boscov’s, as well as catalogue nameplates Blair and Haband. The apparel brand was founded in 1975 and acquired by Kellwood in 1986. Its executive office and merchandising teams are based in New York.
According to Hilco, net wholesale sales for fiscal years 2012 and 2013 were $35 million and $28 million, respectively. Net year-to-date sales for 2014 — the fiscal year hasn’t closed yet — is $26.3 million.