Retail Industry
Industry: Email Alert RSS FeedPEI REVISING STRATEGIES FOR NEW TROPICAL ASSETS; FARAH BRAND TO EXIT WAL-MART; SAVANE TO EXPAND IN DEPARTMENT STORES WITH FASHION PRODUCT.(Perry Ellis International Inc., Tropical Sportswear International Corp., Wal-Mart Stores Inc.)
Daily News Record, February, 2005 by Lipke, David
Byline: David Lipke
NEW YORK -- Perry Ellis International is mapping out new brand strategies for Savane and Farah, the bottoms brands it acquired via the Chapter 11 sale of certain assets of Tropical Sportswear International. The $88.5 million purchase, which was scheduled to close this past Saturday, will, as reported, add $230 million in annual net sales to PEI and dramatically increase the mix of bottoms in the company's total sales, from 20 percent up to 40 percent.
PEI hopes to expand Savane's department store distribution, creating a more formidable competitor to Dockers and Haggar. Currently the brand is sold primarily by the Saks Department Store Group and Belk Inc. PEI would like to grow distribution in May Co., Federated Department Stores...
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