Thursday, January 01, 2009

Remember when Bill Blass was a big deal?

It wasn't that long ago, really, that Blass was a big name in fashion, but now ...
NexCen wanted to unload Bill Blass from its books months ago but only just now made the sale. And like every pair of Manolos in this town, they had to mark it waaaaay down to get it out the door. Though NexCen sought $25 million for the designer business in September, they sold it for a mere $10 million. The lucky buyer is Peacock International Holdings LLC, a men's dress shirt and neckwear company.
When Blass retired and sold the company less than a decade ago, it was doing $700 million annually. The article doesn't say what sales are now, but given that the ready-to-wear line has been shut down, it would seem likely that sales are a fraction of that.

Maybe the company can be re-built; the brand name is still worth something ($10mil, perhaps).

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