PARIS — July 5, 2018 — Lectra, the technological partner for companies using fabrics and leather, received the top score in WhichPLM’s recent benchmark study of the latest Lectra Fashion PLM 4.0 solution. The Industry 4.0-friendly solution was praised by the independent source of free advice for the RFA and CPG industries for providing an “outstanding user experience” delivered in a full-feature, modular structure adaptable to businesses large and small, and available at an attractive price point.

Available in three starter configurations developed to target specific fashion industry processes — Design to Source, Develop to Source and Develop to Manufacture — Lectra Fashion PLM 4.0 embodies Lectra’s mission to empower fashion companies navigate the challenges and opportunities of Industry 4.0. Lectra Fashion PLM 4.0 scored above the industry average in 32 of the 44 functional areas that WhichPLM outlined and assessed. The platform has been judged as a cornerstone solution that connects processes, systems and supply chains. Drawing on lessons from machine learning, the solution equips users with tools enabling them to work more efficiently and accelerate the product development process.

“Lectra Fashion PLM 4.0 represents, in WhichPLM’s opinion, the culmination of a multi-decade journey to connect brands and retailers with their supply chains, and to build a comprehensive, end-to-end suite of integrated solutions that can be adapted and configured for almost any business model,” said Mark Harrop, CEO and founder of WhichPLM.

The WhichPLM Supplier Evaluation is an annual across-the-board assessment of PLM solutions currently on the market. Experts review the solutions based on criteria such as supplier competencies and industry knowledge, roadmap and development, executive vision and customer feedback. In the words of WhichPLM, Lectra Fashion PLM 4.0, which earned an above-industry-average of 3.75 stars out of five, “is well-priced, fully-featured, has an outstanding user experience that is consistent across all modules, and is sold and supported by a business that understands the future of fashion intimately.”

Lectra was highly applauded for its ongoing research and development to improve the user experience year in and year out. “To be absolutely clear, we consider this to be the best possible way to approach modern UX and UI design,” added Harrop. Lectra Fashion PLM 4.0 was awarded higher scores than competitors in ten other areas including Adobe Illustrator integration, 3D-design tools, BOM management, libraries, costing with advanced material yields, and graphical user interface. In terms of configurability, credit was given to Lectra for developing Lectra Easy Tools, which allow both implementers and end users to manage standard data blocks, add new ones, export configurations and more, making the onboarding process much faster and easier.

Thanks to an active customer feedback loop, Lectra has also made the solution’s user interface more accessible and intuitive. These changes include a homepage that automatically adjusts to user behavior, consistent search functionality, clear integrations between modules and solutions, new style overview and product detail pages, and a new “add to cart” function that allows users to organize their workloads.

“We are very proud of our score, as this study was carried out by reputable experts with over 30+ years of experience in fashion PDM & PLM. By focusing on the user experience, we have given the power to our customers, who have been the driving force behind all these improvements. As a result, we have managed to develop a product that best suits their business needs on a case-to-case basis. Our score reflects that and we will continue working in that direction,” Céline Choussy Bedouet, chief marketing and communications officer, Lectra.

Posted July 5, 2018

Source: Lectra

MIAMI — July 5, 2018 — The Special Committee of the Perry Ellis International Inc. Board of Directors, which is composed of the independent directors, today reaffirmed its intention to recommend that all Perry Ellis shareholders vote FOR the Feldenkreis transaction.

As previously announced on June 16, 2018, Perry Ellis’ Board of Directors, acting on the unanimous recommendation of the Special Committee of independent directors and with the support of independent financial and legal advisors, unanimously approved a $437 million transaction to become a private company through an acquisition led by George Feldenkreis. Under the terms of the Feldenkreis merger agreement, Perry Ellis shareholders will receive $27.50 per share in cash upon closing. The purchase price represents a premium of approximately 21.6 percent to Perry Ellis’ unaffected closing stock price on February 5, 2018, the last trading day prior to George Feldenkreis announcing his proposal to take the company private.

The Special Committee noted that Randa’s July 1, 2018 proposal to acquire 100% of the fully diluted common stock of Perry Ellis for $28.00 per share in cash was not solicited and is substantially similar to a non-binding $27.75 per share proposal made by Randa during the Special Committee’s strategic review process. The Special Committee unanimously determined, after consultation with its legal and financial advisors, that the Randa proposal does not satisfy the requirements in the Feldenkreis merger agreement for granting due diligence access or commencing negotiations with respect to a competing takeover proposal. In arriving at its determination, the Special Committee considered, in relation to a 1.8% potential price increase from Randa’s unsolicited proposal, among other things, that:

• the proposal is highly-conditional, non-binding and insufficient in terms of value and certainty of the provided debt financing commitments, as well as the lack of evidence of sufficient cash equity on hand;
• the additional timing to enter into and complete a potential transaction with Randa;
• the inclusion of an unprecedented 3% fee payable by the company to Randa if shareholders vote down the transaction, compared to no such penalty if shareholders vote down the Feldenkreis merger; and
• a number of other terms affecting shareholder value or certainty are inferior, including termination fees, additional risks to closing, and the lack of appraisal rights for shareholders.

Based on the totality of the circumstances considered in comparison to the potential for a slight price improvement, the Special Committee concluded that re-engaging with Randa at the price offered was not in the best interest of shareholders.

The Special Committee continues to unanimously believe that the Feldenkreis merger agreement is in the best interest of all Perry Ellis shareholders.

As previously announced, the Feldenkreis transaction is expected to close in the second half of calendar year 2018, is subject to the satisfaction of customary closing conditions and approvals, including approval by Perry Ellis shareholders (including a majority of the shares owned by shareholders other than the Feldenkreis family or any officers or directors of the Company), receipt of regulatory approvals and other customary closing conditions.

PJ SOLOMON is serving as financial advisor to the Special Committee, Paul, Weiss, Rifkind, Wharton & Garrison LLP and Akerman LLP are serving as the Special Committee’s legal counsel, and Innisfree M&A Incorporated is serving as the Company’s proxy solicitor.

Posted July 5, 2018

Source: Perry Ellis International, Inc.