- Marjorie van Elven |
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.