NEW YORK – Phillips-Van Heusen announced this morning that it has acquired the neckwear company Mulberry Thai Silks for $10 million. The privately-held company produces neckwear under brands like Kenneth Cole New York, Sean John, BCBG Max Azria, Liz Claiborne and Henry Jacobson. Mulberry’s annual sales are estimated at between $20 million and $25 million.
Mulberry Thai Silks was founded 19 years ago by Henry Jacobson, who is the company’s current CEO and creative director. PVH also acquired the Henry Jacobson apparel brand in the deal.
PVH CEO Emanuel Chirico commented in a statement, “By acquiring the neckwear rights to these additional brands, we are building upon our core competency in this product area as well as increasing the number of brands for which we will be able to market both dress shirts and neckwear. We believe these licensing arrangements provide opportunity for future growth and expect that, as a result of integration costs, the transaction will not have a material effect on earnings in 2008 but will be modestly accretive beginning in 2009.”
PVH, which is currently the largest neckwear and shirt company in the world, owns the Calvin Klein, Van Heusen, Arrow and Izod brands. It produces apparel under license for Geoffrey Beene, Kenneth Cole, BCBG Max Azria, Tommy Hilfiger and Perry Ellis.