Leading apparel manufacturer Kellwood Company has changed hands.
A Hong Kong-based investor group acquired the company, which operates brands in the womenswear and junior’s apparel market, for an undisclosed amount according to a statement.
The privately-held company was previously operated by Sun Capital Partners.
Kellwood Company’s new owners will be taking on its My Michelle, Jolt, Rewind, Democracy, Sangria, JAX and Briggs New York brands, and the apparel license for its XOXO private label.
David Falwell, who has been with Kellwood some 30 years on and off, most recently as executive vice president of operations, will assume the role of CEO, taking over for Joe Lombardi. The company named Lombardi, who was previously Kellwood’s chief financial officer, its new CEO last January to help the company build on its foundation for growth, but the stint was short lived.
Falwell, however, is expected to bring the company greater growth.
“Kellwood is one of the leading apparel manufacturers in the United States, with over 50 years of history at the forefront of the apparel industry,” Falwell said. “We believe that there is tremendous growth potential for Kellwood’s businesses, and this acquisition will allow the company to leverage its existing relationships in Asia to grow its businesses and increase profitability.”
The Hong Kong investor group believes in Kellwood’s growth potential, according to Falwell, who added that the company is better positioned than ever to serve its retail partners and consumers.