USA: Perry Ellis Purchases Mondo Di Marco Brands

Perry Ellis today announced that it has signed an agreement to purchase the Mondo di Marco, Pronto Uomo and Linea Uomo trademarks from the bankruptcy estate of Mondo, Inc. The purchase price was approximately $3.5m. Under PEI's previously announced agreement with Men's Wearhouse, the two companies will work together to capitalise on the strength of the acquired brands. Upon final approval of the acquisition, Men's Wearhouse will purchase the worldwide rights from PEI to distribute the Pronto Uomo and Linea Uomo brands for approximately $1.75m. George Feldenkreis, CEO of Perry Ellis, said: "The addition of the Mondo di Marco will increase PEI's presence in the designer market, enabling us to further diversify our distribution into premier retail accounts such as Nordstrom and Saks where the brand is currently sold." In connection with the acquisition, the Company also announced that Hal Davis has been appointed vice president of sales, designer brands, for PEI. Mr Davis will be responsible for managing the design, production and marketing of selected designer brands under the PEI portfolio. Prior to his appointment, he was divisional president of the Mondo di Marco and Gene Meyer divisions of Mondo, and has also held executive positions at cK Calvin Klein, American Fashion, Valentino, and other designer companies. He will report to Oscar Feldenkreis.