British men's sportswear label Beb Sherma, is officially sold to US brand, Marquee Brands for £40.8 million (€58.52 million). This was after the label’s parent company, Oxford Industries made an announcement that they were looking for a potential buyer. Oxford’s chairman and CEO Thomas C Chubb III made a comment about Ben Sherman’s efforts, their dedication and enthusiasm appreciating the label. He further stated that they were looking forward to working with Marquee Brands and believed that this association will benefit both companies.
Established in 1963, Ben Sherman, has been owned by Oxford Industries for 10 years. Last year, the label generated $77.5 million in sales and a loss from operations of $10.8 million. In 2013, the sales were 67.2 million and loss $13.1 million. The brand shows an improvement in the 2014 sales.
A brand acquisition, licensing and development company, Marquee Brands, operates together with Neuberger Berman Private Equity. It identifies brands in various consumer product segments to expand their reach across retails channels, product category and geography. At present, Marquee Brands owns the Italian footwear label, Bruno Magli they acquired in early 2015.
