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Platt Joins NexCen Brands

Will Steer Waverly and Home Division

Carole Sloan -- Home Textiles Today, May 21, 2007

Richard (Rick) Platt has joined NexCen Brands to become president of the company's newly acquired Waverly brand and NexCen's home division.

Platt was most recently managing director of Official Pillowtex, where since 2004 he was responsible for brand direction and merchandising strategy for brands including Cannon, Fieldcrest, Royal Velvet, Charisma, Bugle Boy, and Delia's. He joined Official Pillowtex from Sure Fit, where he was senior vp of retail sales.

Earlier, Platt was senior director of retail sales and marketing for National Football League Properties, the NFL's $3 billion consumer products division. He also was vp, creative development for Major League Baseball. Platt also has a retail background, first with May Co.'s G. Fox division and later with Ames Department Stores.

Robert D'Loren, NexCen president and ceo, said, "Platt exemplifies the superior leadership we commit to our family of brands."

NexCen completed the acquisition of the Waverly brand in mid-May. When the acquisition was announced, NexCen said it would pay $36.75 million in cash to F. Schumacher & Co., Waverly's parent, and issue 50,000 warrants priced at closing to acquire the Waverly brand and cancel an existing right of first refusal. At that time, the company said it expected the Waverly brand to generate approximately $9 million in royalty revenues and approximately $.07 per share of earnings per share in the first 12 months following the acquisition.

In addition to the Waverly brand, NexCen owns the Bill Blass brand which, the company said at the time of the Waverly announcement, it will expand across the home arena.

In a related move, Pamela Maffei Toolan has been named vp of the home division at NexCen, reporting to Platt.

Maffei Toolan also will continue her responsibilities heading the design activities of the Waverly decorative fabrics program at P/Kaufmann, the Waverly decorative fabrics licensee. She assumed that responsibility last month. Maffei Toolan has been vp, design for the Waverly Lifestyle Group since 2000, where she also was responsible for design for the company's licensed Colonial Williamsburg collection. She has been the recipient of numerous home textiles and fabric industry design awards.

Noted D'Loren, "Waverly's premier position in the marketplace was built on the savvy and creativity of its very talented team of designers led by Pamela Toolan."

On the non-design side, NexCen has named Brenda Palmer vp of licensing and brand development. A 30-year industry veteran, she was most recently vp of licensing for Jordache Enterprises.

Palmer has worked in a range of sales, merchandising, and brand marketing roles at consumer goods companies including the Greg Norman Collection division of Reebok International, Nautica Apparel, Liz Claiborne Accessories, and Polo Ralph Lauren. "Brenda's expertise in acquiring, licensing and marketing premium brands will be a significant asset as we aim to increase market share in all of our verticals," said D'Loren.

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