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Oxford Industries, Inc. announced
that on January 3, 2011 it consummated its previously
announced sale of substantially all of Oxford Apparel, one
of its operating groups, to LF USA, a subsidiary of
Li & Fung Limited. The net cash proceeds are
expected to be in excess of $95 million after the collection
of retained accounts receivable, the sale of in-transit
inventory to LF USA and the payment of retained liabilities,
transaction expenses and income taxes. The Company's Oxford
Golf business and a distribution center in Lyons, GA, which
were part of Oxford Apparel, were not included in the
transaction and will continue to be operated by the Company.
History - Below Summary is prior the
sale to Li & Fung in January 2011
Oxford
Industries, Inc. is a producer and marketer
of branded and private label apparel for men,
women and children. Oxford provides retailers
and consumers with a wide variety of apparel
products and services to suit their individual
needs. Oxford's brands include Tommy Bahama®,
Indigo Palms®, Island Soft®, Ben Sherman®,
Arnold Brant®, Ely and Walker® and Oxford
Golf®. The Company also holds exclusive
licenses to produce and sell certain product
categories under the Tommy Hilfiger®, Nautica®,
Geoffrey Beene®, Slates®, Dockers®, and Oscar de
la Renta® labels. Oxford's customers are found
in every major channel of distribution including
national chains, specialty catalogs, mass
merchants, department stores, specialty stores
and Internet retailers.
The Tommy Bahama Group is a lifestyle company
that defines elegant tropical living with men's
and women's sportswear, denim, swimwear,
accessories and a complete home furnishings
collection. Tommy Bahama produces two additional
collections under the Indigo Palms and Island
Soft brands. Tommy Bahama products can be found
at the country's finest retailers as well as in
more than forty-five company-owned retails
stores across the country. For more details,
please visit
www.tommybahama.com. The Oxford Menswear Group is a leading
producer of branded and private label dress
shirts, sport shirts, dress slacks, casual
slacks, suits, sportcoats, suit separates,
walkshorts, golf apparel, jeans, swimwear,
footwear and headwear. Owned brands include Ben
Sherman, Oxford Golf, Ely, Cumberland Outfitters
and Cattleman. We also hold exclusive licenses
to produce and sell certain product categories
under the following brand names: Tommy Hilfiger,
Nautica, Oscar de la Renta, Geoffrey Beene,
Slates, Dockers, Cubavera, Havanera and Evisu.
For more details on the Menswear Group's
tailored clothing division, Lanier Clothes,
please visit
http://www.lanierclothes.com. Also included in the Menswear Group is Ben
Sherman, a London-based designer, distributor
and marketer of branded sportswear, accessories
and footwear. Acquired by Oxford in 2004, Ben
Sherman has a long heritage as a modern, young
men's shirt brand that has evolved into an
irreverent global lifestyle brand for
youthful-thinking men and women. Distribution
has evolved beyond its U.K. roots to include the
United States, Canada, Continental Europe,
Australia and the Far East. For more
details, please visit
http://www.benshermanusa.com and
http://www.bensherman.co.uk. The Oxford Womenswear Group is a major
producer of budget and moderately priced private
label women's apparel for mass merchant and
catalog retailers. Products include sportswear
separates, coordinated sportswear, outerwear,
dresses and swimwear.
Oxford's stock has traded on the NYSE since
1964 under the symbol OXM
Oxford Industries supports numerous charitable
organizations through its administration of the
Oxford Foundation.
The mission of Oxford Industries
Foundation, Inc. is to enhance the quality of
life in the business community through its
support of human services, cultural, educational
and health-related organizations. The
Foundation recognizes that the well-being and
prosperity of the business environment is bound
together with the well-being and prosperity of
the community as a whole. Therefore, the
Foundation directs its contributions toward
advancing the public welfare, helping ensure a
sound social structure and supporting employee
participation in the giving process. The
Foundation does not view its philanthropy as
charity but rather as an investment in a better
society. |
Learn more about
Oxford Industries at the Oxford Industries website.
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