Liberty-owner allegedly eyeing up Ben Sherman
British mod-inspired brand Ben Sherman could soon have a new owner. According to The Telegraph, Blue Gem, the private equity company that owns iconic department store Liberty and Mamas & Papas, among other brands, is planning to bid for the label.
Ben Sherman has been put up for sale by its American owner, Oxford Industries. Financo, a US corporate advisory outfit, is allegedly fielding interest on behalf of BlueGem. In 2010, BlueGem paid £40m for Liberty.
Net sales for Ben Sherman rose to $77.5m in fiscal 2014, compared to $67.2m in fiscal 2013, with increases in all channels of distribution. The loss from operations fell to $10.8m in fiscal 2014 from a loss of $13.1m in fiscal 2013, primarily due to higher net sales.
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