Perry Ellis Special Committee Ends Sale Talks with Randa Accessories

A special committee of the Perry Ellis board ended potential sale talks with Randa Accessories, maintaining that its largest inbound licensor wouldn’t agree to the deal, the committee said in a statement. The licensor wasn’t identified. The decision appears to clear the way for founder George Feldenkreis to buy the company and take it private for $27.50 a share, or $437 million. Feldenkreis, was dismissed as executive chairman last September. Randa had asked Feldenkreis to step aside and help it gain the licensor’s support, according to a letter from Randa CEO Jeffrey Spiegel that Perry Ellis included in the news release. Randa was prepared to increase its offer in exchange for the support. The licensor wasn’t going to agree to the proposal regardless of any potential action taken by Feldenkreis, the committee said.

Contact:

Perry Ellis, Oscar Feldenkreis, CEO, 305-592-2830,

Randa Accessories, Jeffrey Spiegel, CEO, 212-768-8000

Xcel Brands’ Targets Doubling Its Brands’ Retail Sales by 2021

Xcel Brands aims to double retail sales of its labels to $900 million by 2021 as it expands C. Wonder to international markets and boosts the number of Isaac Mizrahi (IMNYC) and H. Halston in-store shops, CEO Robert D’Loren told analysts.

The company expects to have 800 in-store shops in place at Dillard’s, Lord & Taylor and others by spring 2019, up from 700 now.

At the same time, it has shifted its Judith Ripka jewelry business to a supply agreement with former licensee Pranda International. Xcel launched a Ripka fashion collection at Lord & Taylor. And licensee Royal Heritage Home also has introduced Isaac Mizrahi bedding at Bed Bath & Beyond.

Xcel had a $100,000 net loss in Q2 ended June 30, compared to a $200,000 profit in the year-earlier period as revenue declined slightly to $8.1 million, owing to the end of a licensing agreement with QVC for the C. Wonder brand. Xcel is bringing C. Wonder brand China this fall via licensing.

Contact:

Xcel Brands, Robert D’Loren, CEO, 347-727-2474

Inter Parfums Expects Strong Sales of Guess Brand in Russia

Inter Parfums expects strong sales of Guess fragrance in Russia as it builds out business for the recently signed 15-year licensing deal, CEO Jean Madar told analysts as the company reported Q2 results. The company plans to take advantage of newly opened Guess stores in Russia and expects it to be among the Top 10 selling fragrance brands in Russia within 10 years, Madar said. Guess also has “strong recognition” in China, he said.

Inter Parfums also is expanding its line of Coach fragrances, sales of which more than doubled to $45 million in the six months ended June 30, accounting for 14.1% of the company’s $321.1 million in total revenue. It signed the Coach license with owner Tapestry last year. Inter Parfums also recently signed an eight-year agreement with diamond supplier Graff for a line of premium fragrances that will target department stores in 2019.

In the six months ended June 30, revenue from the company’s top-selling Monte Blanc brand declined 4.6% to $66.3 million, while Jimmy Choo products slipped 12.4% to $59 million. In Q2 ended June 30, net income rose 54% to $14.2 million as revenue jumped 15.6% to $149.3 million.

Contact:

Inter Parfums, Russell Greenberg, CFO, 212-983-2640 rgreenberg@interparfums.com

Agencies

IMG is handling licensing for the Netflix series “Queer Eye” and has developed a style book with a goal of having products ship late this year starting with apparel and including home goods and accessories by spring, says an IMG spokeswoman. IMG is working with Queer Eye producer Scout Productions on branded and co-branded items as the series moves into licensing for the first time. Queer Eye, a reboot of the Bravo series “Queer Eye for the Straight Guy” (2003-2007), was released on Netflix in February and renewed for a third season that will premiere in 2019…. Lisans A.S. is handling licensing in Turkey for the Turnnowsky textiles and home goods brand with plans for stationery, back-to-school and lifestyle products. Meanwhile, Brand Squared is representing Turnowsky in the U.S., replacing Brand Liaison… Fashion Branding Group is bringing the Aquascutum London brand into licensing in the U.S. Aquascutum, best known for its iconic trench coats used by the British military in World Wars I and II, is seeking deals for backpacks, luggage, small leather goods, eyewear and watches. The licensing program in the U.S. comes a little more than year after the brand was purchased by the Chinese holding company Jining Ruyi Investment Co.

Contacts:

Brand Squared Licensing, Michael Dresner, Partner, 212-931-3146, mdresner@bsquaredlicensing.com

Fashion Branding Group, Christopher Lee Ursin, CEO, 917-454-8625, christopherursin@gmail.com

IMG, Gary Krakower, VP Worldwide Licensing, 310-285-9000, gary.krakower@img.com

Turnowsky, Guy Braun, Licensing Dir., +972 3 711 3411, guy@turnowsky.com