US: Denim brand NYDJ Apparel in ownership shuffle
US women's denim brand NYDJ Apparel has been acquired by private equity firms Crestview Partners and Maybrook Capital Partners from Falconhead Capital.
California-based NYDJ Apparel - which started out as Not Your Daughter's Jeans - primarily markets slimming jeans in more than 20 countries, including Europe, Canada, Brazil, Australia and New Zealand. It is said to be the top-selling women's denim brand in US department stores.
In recent years, NYDJ expanded domestically and internationally, launched shirts, blouses and other tops, and began to sell merchandise through its e-commerce website.
The sale of NYDJ is Falconhead's third company exit following the sale of Escort in October and sportswear business Competitor Group in December 2012.
However, terms of the deal were not disclosed.
Separately, Robert Skinner has been named as the new president and CEO of NYDJ. Prior to this, Skinner served as CEO of Smart Apparel US, and managing director of Smart Shirts Hong Kong. He has also held senior positions at Kellwood Company and Oxford Industries.
Mackey McDonald, senior advisor at Crestview Partners, and former chairman and CEO of VF Corporation, meanwhile, has been appointed chairman of NYDJ.
Oxford Industries, the owner of the Tommy Bahama brand, has moved to a loss in its third-quarter but offered a positive outlook for the remainder of the year despite the "difficult environment"....
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