US: Charming Shoppes sells misses apparel catalogues
Women's plus-size apparel retailer Charming Shoppes Inc has sold its non-core misses apparel catalogues to Orchard Brands, a unit of Golden Gate Capital, for $35m.
The sale completes the deal announced last month, and includes the Old Pueblo Traders, Bedford Fair, Willow Ridge, Lew Magram, Brownstone Studio, Intimate Appeal, Monterey Bay Clothing Company and Coward Shoe catalogue titles and their associated e-commerce sites.
Alan Rosskamm, chairman of the board of directors and interim chief executive officer of Charming Shoppes, said the sale "is a key step in our strategy to focus on our core brands - Lane Bryant, Fashion Bug and Catherines - to better leverage our leading market share in women's plus-size apparel."
Orchard Brands is a multi-channel marketer of apparel and home products focused on women and men above the age of fifty-five.
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