- Marjorie van Elven
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Randa Accessories, the centenary company making leather goods, headwear,
jewelry luggage and other accessories for brands like Hanes, Guess and
Jessica Simpson, has entered a definitive agreement to acquire 100 percent
of menswear label Haggar Clothing Co. The transaction is expected to close
within 45 days.
Haggar operates over 80 stores and an e-commerce in North America, as
well as working with a network of more than 10,000 wholesalers. The deal
also includes Tribal, the Montreal-based women’s sportswear supplier owned
by Haggar, which has over 2,400 retailers on its client list.
Commenting on the acquisition, Randa Accessories CEO Jeffrey Spiegel
said: “This acquisition allows Randa to bring its existing expertise to
adjacent brands, channels of distribution, and product classifications.
This transaction brings together two successful, financially strong, and
complementary businesses to better serve our retail and brand partners, our
associates, and our consumers.”
“Today, understanding and applying consumer data is an essential tool,”
Spiegel added. “The addition of Haggar’s retail stores and e-commerce
business will supply us with invaluable insight into our consumers’
evolving expectations and path-to-purchase. This information will provide a
powerful and actionable lens for our retail and brand partners, as well as
our consumers.”
Haggar will continue to be based in Dallas and be led by its current
management team.
Founded in 1910 in New Jersey, Randa Accessories is a global accessories
company with a portfolio of 50 brands operating in 11 countries. Haggar was
founded in 1926 and is best known for its fine dress pants and slacks for
men.
