Nov 8, 2016
Marquee Brands makes new acquisition after Ben Sherman
Nov 8, 2016
In July 2015 Marquee Brands acquired Ben Sherman, revealing its ambition of becoming a new, high-calibre player in the fashion world. The US company is linked to the Neuberger Berman group, and clearly intends to capitalise on brands that have foster a good reputation.
In has gone on to invest in Bruno Magli, a high-end Italian footwear manufacturer in business since 1936, and Ben Sherman, founded in Great Britain in 1963.
After creating a children's line for Ben Sherman last July, Marquee Brands has recently announced a new acquisition, this time involving a board sports label Body Glove, a specialist in swimwear and wetsuits for water sports. Body Glove was created in 1953 in California by brothers Bob and Bill Meistrell, and was still family-owned, before this latest acquisition.
According to the US media, its annual revenue is worth between $150 and $200 million. The Meistrell family still holds a minority stake in Body Glove, while Marquee Brands will set up an office on the US West Coast to support its expansion.
"The opportunity of further extending [Body Glove's] international reach is at the root of our involvement," explained Michael DeVirgilio, president of Marquee Brands. Body Glove has scope for incredible growth, via the development of new product categories targeting consumers who enjoy outdoor activities and a dynamic lifestyle."
The outdoor activity segment is clearly one of the group's development vectors, and other acquisitions are planned for the near future.
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