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.

LOS ANGELES — July 5, 2018 — Gordon Brothers — a global advisory, restructuring, and investment firm — announced today that it has acquired the Bench brand and all its related intellectual property assets. Launched in Manchester, England, in 1989, Bench is one of the first streetwear fashion retailers and until very recently its products could be found in more than 20 countries in Europe and North America.

In focusing on lifestyle products associated with the skate and BMX culture of the late 1980’s, early 1990’s, Bench was far ahead of its time in tapping into this unique lifestyle. Over the years, Bench has expanded its product offering to include high quality men’s, women’s and kid’s streetwear products offered at accessible price points. As recently as 2017, the brand had more than 80 Bench branded stores in Europe and North America and an additional 2,000+ wholesale points of sale, making it one of the only true global streetwear brands of scale.

“Streetwear has never been hotter than it is today,” said Ramez Toubassy, president of Gordon Brothers’ brands division. “We are excited to be able to acquire an authentic pioneer in the category and bring our thoroughly modern branding, marketing and business model to bear in reestablishing Bench as a streetwear powerhouse.”

In the short-term Gordon Brothers will focus on reestablishing the brand’s European e-commerce presence while it methodically re-builds the business’ wholesale footprint in that territory. In North America, Gordon Brothers will continue the brand’s long-standing partnership with Freemark Apparel Brands Group, who have successfully built Bench into a multi-channel business, through distribution in Bench retail stores, wholesale and e-commerce.

This acquisition follows Gordon Brothers’ highly successful relaunch of the Wet Seal fast fashion retailer as a digitally native e-commerce business. Gordon Brothers’ brands division acquires, restructures and revives some of the world’s most recognizable brands. Past investments include Polaroid, Wet Seal, and Bombay & Co. The team is known throughout the industry for its expertise in buying, selling, managing and transforming underperforming consumer brands into healthy, thriving businesses.

Posted July 5, 2018

Source: Gordon Brothers

SAN FRANCISCO — July 5, 2018 — Huckberry, the online men’s retailer based in San Francisco, announced today it has acquired premium men’s apparel brand Wellen. Founded in 2007 by Matthew Jung, Wellen’s beach lifestyle clothing label has grown to attract a dedicated fanbase around the globe.

“Through the years Wellen consistently inspired us to hit the beach, and their gear ensured we were equipped for whatever the sand and surf sent our way. We’ve always felt that they shared our vision for making adventure approachable, so we’re excited to bring the company under our wing,” said Huckberry Co-Founder Richard Greiner. “We can apply our creative departments and our operational strength to bring Wellen to the next level — all while staying true to the roots Matthew and his team planted.”

“I always intended Wellen to be more than a surf brand. It’s a brand for everyone with memories of moments enjoyed on the beach,” said Jung, founder of Wellen. “Huckberry is more than an online retailer — they’re storytellers who bring brands to life. I know the Wellen spirit and the product born from it will reach new heights under the Huckberry umbrella.”

Huckberry will begin unveiling new Wellen collections in 2019. Wellen fans can look to Huckberry.com for updates and details on the brand.

Posted July 5, 2018

Source: Huckberry