New York & Co acquires plus-size retailer Fashion to Figure

New York & Company announced on Tuesday that it has bought plus-size retailer Fashion to Figure at a bankruptcy auction.

New York & Company made a cash purchase of $1.4 million plus no more than $1.0 million of fees and expenses - Fashion to Figure

New York & Company plans to relaunch the brand in 2018 as a new channel to continue to grow its plus-size business. It has experienced success through its celebrity lines by Eva Mendes and Gabrielle Union which both have plus-size extensions.

New York & Company will hire some of Fashion to Figure's designers, merchandisers and eCommerce team members in an effort to breathe new life into the defunct plus-size chain. It intends to negotiate with landlords to allow the stores to continue operating and will also enter into discussions with vendors in the hopes of continuing production to meet a projected relaunch date of February, 2018.

Gregory Scott, New York & Company’s CEO, noted that the plus-size market was a $21 billion industry in 2016. It has grown at a rate double the rest of the US women's apparel market and is expected to continue experiencing exponential growth.

Scott said the transaction included acquisition of Fashion to Figure's consumer database of 500,000 consumers and confirmed that New York & Company intends to preserve Fashion to Figure's brand DNA.

Scott specifically noted that implementing "New York & Company’s operational expertise, omni-channel capabilities, strong digital business, and celebrity platform will enable us to generate significant top line growth and sustained profits" for Fashion to Figure.

​Fashion to Figure was founded in 2004 by the great-grandsons of plus-size chain Lane Bryant founder, Lena Bryant. Bryant has been quoted as saying in 1950, "You should never ask women to conform their figures to fashion, but rather bring fashion to the figure."

The company was in Chapter 11 Bankruptcy proceedings. New York & Company made a cash purchase of $1.4 million plus no more than $1.0 million of fees and expenses, and included in the transaction are rights to Fashion to Figure's intellectual property, trademarks and consumer database.

The transaction is expected to be complete by late Q4 2017.

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