Kay Completes Aberdeen Purchase
NEW YORK – Significantly boosting its presence in the men’s market, The Herman Kay/Bromley Group has completed its acquisition of Aberdeen Sportswear and combined the sales and sourcing resources of the two firms.
Financial terms of the transaction weren’t disclosed. Details of the acquisition were first reported without confirmation on MRketplace.com on Sept. 18.
Joel Stolz, formerly owner of Aberdeen, will continue to run the Aberdeen men’s operation and now will report to Richard and Barry Kay, co-presidents of Herman Kay. Barry Kay told MRketplace.com that Aberdeen’s previous offices have been closed and the two firm’s operations put together in expanded 40,000-square-feet offices on the 12th and 13th floors of 463 Seventh Ave. here.
The acquisition follows Herman Kay’s pick-up late last year of the license for London Fog women’s and men’s outerwear, including raincoats and topcoats. The London Fog trademark had earlier been acquired by Iconix Brand Group for $37.5 million in cash and stock. Iconix also licensed Kay for women’s suits.
“We will be doing our sourcing together,” commented Barry Kay, “and use Aberdeen’s production and distribution capabilities. We’ve launched London Fog for fall together, and the Aberdeen unit will continue to do operate as it had, offering Aberdeen, Perry Ellis and Rockport for men and boys along with the new men’s London Fog collection.”
Barry Kay wouldn’t provide volume figures for the two firms, but market sources previously had placed Aberdeen’s annual revenues in men’s and boys’ outerwear at about $60 million.
Kay/Bromley also manufactures and markets women’s outerwear under brands including Avanti, Jones New York and XOXO.
