Marquee Brands is bringing the Ben Sherman brand into the fold. The brand acquisition, licensing and development company announced Monday it has purchased the Ben Sherman brand and related intellectual property assets from Oxford Industries, Inc. for $63.7 million.
Ben Sherman dates back to 1963, when the brand’s fun use of color and prints became synonymous with British youth culture. Today the brand offers formal and casual shirts, denim, footwear and accessories. Marquee Brands plans to market and promote the brand across various lifestyle categories and expand its retail reach beginning in first quarter 2016.
It is Marquee Brand’s second investment this year following its acquisition of Italian luxury brand Bruno Magli in February.
In a statement, Marquee Brands President Michael DeVirgilio said, “We are particularly excited about this transaction as Ben Sherman is consistent with our mission to acquire high quality brands with substantial global growth potential. The current management team under Oxford’s leadership has done a great job building on the core essence of the brand. We’ve received supportive messages from retailers across the globe that share our view of the growth opportunity ahead.”