NEW YORK – The Herman Kay/Bromley Group has reached an agreement in principle to acquire Aberdeen Sportswear from its principals, according to recurring reports circulating in the market here.
The acquisition would give Herman Kay, recently designated as the outerwear licensee for London Fog, a substantial presence in the men’s outerwear market, in which Aberdeen does about $60 million in annual volume, according to estimates.
Officials at Aberdeen declined to comment, and Richard Kay, principal of Herman Kay, didn’t respond to telephone requests for comment.
Aberdeen holds the license for Perry Ellis men’s outerwear and does substantial business with numerous department stores and mid-tier chains.
Iconix Brand Group bought the London Fog brand from the London Fog Group last month for $37.5 million in cash and stock. Iconix immediately said that it had entered into a licensing agreement with Kay/Bromley granting it rights to the London Fog name for both men’s and women’s outerwear and women’s suits. An agreement with Aberdeen would give it a stronger foothold in the men’s outerwear business and help lay the groundwork for a major move into menswear.
Kay/Bromley also produces outerwear under the Avanti, Jones New York and XOXO brands.