Restructuring initiatives cost Tandy Brands Accessories a hefty $19 million, but with new financing secured, the Dallas-based firm expects to grow through the holiday season and in the year to come.
A new licensing contract with Christian Casey LLC, and an extension of its licensing agreement with Haggar, should help restore profitability for Tandy Brands accessories.
The Christian Casey deal, which runs for three years, will enable Tandy to sell Sean John belts, small leather goods and gift ware domestically and in Canada.
With Tandy’s extension of the Haggar licensing contract, the firm will continue selling Haggar belts and small leather goods in the US and Canada for three more years.
Tandy’s financial troubles stem from a disappointing 2012 holiday period.