Clover Corp., which has owned Robert Lee Morris Inc. since 1998, has parted ways with its founding affiliate, M. Fabrikant & Sons.
Fabrikant sold the assets and certain liabilities of Clover to entities owned by Lester Friedlander, a former officer of Clover and Robert Lee Morris Inc. Terms of the sale were not disclosed.
Friedlander will now form Clover II Corp., which will serve as the business umbrella for Clover II and Robert Lee Morris. The original Clover will cease to exist. Clover II will take over much of the former firm’s operations, including wholesaling jewelry to QVC, J.C. Penney and Sam’s Club, among other customers.
Friedlander said the management group and staff at the two firms — Clover II and Robert Lee Morris — would stay the same; Robert Lee Morris’ will remain creative director. Friedlander will become president of Clover II. He added the companies will operate individually on the front end, but will share back-end functions such as shipping. The headquarters will continue to be at 233 Spring Street in Manhattan.
“We are delighted to finally be independent and free to pursue our businesses with 100 percent zeal for the first time,” said Morris. “Both our firms are growing quickly and we have a lot of plans on our plates that would be hampered if there were too many cooks in the kitchen. We are now a leaner, meaner, tighter machine.”
Morris has been busy this fall. Last month, he launched an e-commerce Web site and two jewelry collections based on Andy Warhol, the Andy Warhol by Robert Lee Morris line and the more pricy Factory X assortment. Morris also collaborated with Donna Karan and the Estée Lauder Cos. on the new DK Gold fragrance, and with Catherine Malandrino on jewelry for her spring collection.
Morris, which signed a license last year with Warner Bros. to create jewelry for the “Superman” movie series and other DC Comics heroes, said there are other licenses in the works that may include home goods. He said he would begin remodeling the space at 400 West Broadway in January to accommodate his various lines
Friedlander said as a result of the restructuring, Clover hoped to increase its fashion business to help its retailers offer more niche products. M. Fabrikant & Sons declined to comment on the sale.