NEW YORK — Jordache Enterprises has acquired the Earl Jean brand from VF Corp.
Jordache and a group of private investors purchased the women’s and men’s denim-based brand in a deal that was made final on Thursday, although terms were not disclosed.
“We were looking for a brand like Earl,” said Liz Berlinger, president of Jordache Enterprises. “We are looking to expand our roster of premium brands and brands that appeal to the department store venue, and Earl had a lot of factors that represent that idea well. They were the original creators of premium denim, but over the past few years, it somehow lost its mark with denim as its priority. We want to bring it back to where it started.”
In January, VF Corp. signed a letter of intent to sell its Earl Jean brand to a privately held New York apparel company, which it did not identify. VF acquired Earl Jean in 2003 as part of its purchase of Nautica Enterprises. The brand generated about $13 million in sales, including income from four Earl Jean branded stores. Berlinger said these stores will close.
Earl will be integrated into Jordache’s existing premium denim business, joining a roster that includes Jordache Vintage, launched in 2004 and sold in boutiques; Jordache Legacy, a collection for consumers 25 and older that bows at retail in August, and Blue Star by Jordache, a junior line slated to hit stores in May.
Berlinger said consumers should begin to see new Earl Jean merchandise and an accompanying marketing campaign by the holiday season. The line is expected to retail for $80 to $110. Berlinger expects volume to be minimal the first year, but by the end of 2007, she projected it will reach “$20 million or above.”