US: VF Corp to buy Rock and Republic denim brand
Clothing maker VF Corporation is to buy the bankrupt upscale denim brand Rock and Republic, acquiring the company's trademarks and intellectual-property rights.
The deal does not the business operations or retail stores and, while it is subject to bankruptcy court approval, is expected to close in spring 2011. The purchase price was not disclosed.
Greensboro, North Carolina based VF Corp already owns more than 30 brands, including denim labels include 7 For All Mankind, Lee and Wrangler.
The Rock and Republic acquisition, however, will mark the first buy for VF's Licensed Brands group, led by David Conn, which was formed in July of 2009. Conn, who joined the company from Iconix Brand Group, which markets a portfolio of consumer brands, has been tasked with introducing new brands under a licensed business model.
Rock and Republic said it wished to assure its customers that the transition over the next few months would be smooth and seamless, and that all orders would be filled.
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