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Salant Corp Acquires Tricots St Raphael

NEW YORK, Jan. 17 /PRNewswire/ -- Salant Holding Corporation, a wholly owned subsidiary of Salant Corporation (OTC Bullentin Board: SLNT), has announced the acquisition of Tricots St. Raphael (Tricots), the designer knitwear collection. Salant acquired Tricots through an Asset Purchase Agreement dated January 10, 2001, which was effective January 2, 2001. Salant is primarily known as the manufacturer and distributor of Perry Ellis Menswear, which includes sportswear, dress shirts, slacks and accessories, to retailers such as Federated Department Stores, The May Company and Dillard's. Tricots is one of the most prestigious labels in designer men's sweaters and knitwear; the collection is sold at Nordstrom, Saks Fifth Avenue and other better specialty stores. The alliance with Tricots affords Salant the opportunity of adding an upscale tier to its distribution. "Salant intends to maintain the design, merchandising and marketing integrity of the Tricots brand, while enhancing its back office efficiencies through operational alignment," stated Michael J. Setola, Salant's Chairman and Chief Executive Officer. "I am delighted with the dimension that our new association will bring to the Salant organization." The acquisition of Tricots, together with the recent licensing arrangement with Tallia Uomo, an upscale contemporary men's sportswear collection, will strengthen Salant's position in better channels of distribution. Setola continued, "Through our continued efforts in forging new businesses and the appropriate alliances, Salant is strongly positioning itself for the future. We are focused on marketing through multiple channels of distribution, and on increasing our share of the total menswear market."SOURCE Salant CorporationCopyright 2001 PR Newswire