Homestead Combines with London Fog
December 13, 2004-- Home Textiles Today,
Homestead Fabrics Ltd. has become a subsidiary of outerwear maker London Fog Industries, and Homestead President David Greenstein has become the combined company's new CEO.
“We are building on an entrepreneurial company that can move quickly to bring new products to market across diverse categories,” Greenstein said.
The $100 million Homestead business will now operate as HHI Homestead Holdings Inc.
The combination gives London Fog “an expanded and diversified sourcing infrastructure,” according to a company release. The deal also puts Homestead — which built its business in private label — into a larger branded arena.
Among Homestead's existing licenses in home products are Gloria Vanderbilt, Ironman and Little Tikes. London Fog manages Pacific Trail, Black Dot, Moonstone and Dockers as well as its own brand and London Fog Factory Outlet Stores.
“We will become more meaningful to a wide range of retail customers as we are now able to offer across-the-board opportunities — brands and private label, as well as exciting new product development made possible through this new entity,” Greenstein said.
To that end, the company plans to assemble a new design team under Stacy Haase, who was recently appointed creative director.
Haase has spent more than 20 years in home textiles and home products design. She also recently launched a self-titled women's contemporary fashion ready-to-wear line, which is currently available at Saks Fifth Avenue. London Fog plans to merge the line into its portfolio of brands, the company said.
Said Haase: “We're bringing a fresh perspective to every one of our collections, with new looks and new thinking. You'll start to see this in next season's lines.”
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