Otto Group's U.S. Division Acquires Bombay Brands
Posted on January 11, 2011 by
NEW YORK--Hermes-Otto International USA LLC, the U.S. division of the global fashion and lifestyle company Otto Group, has acquired Bombay Brands LLC along with its brand, The Bombay Company. The purchase price was not disclosed.
H-OI previously served as the exclusive North American licensee of Bombay products, but with this purchase it now has direct, global control of the brand. It purchased the Bombay Company trademarks and intellectual property from Hilco Consumer Capital and Gordon Brothers Group, which relaunched the iconic brand through a joint partnership in 2008. The deal does not include Bombay and Co. Inc., a company that has exclusive right to sell Bombay products in Canada.
"With its potent blend of classic styling and unexpected detail, The Bombay Company continues to be a vital, highly recognized brand in the U.S.," said William Hollands, president of H-OI, who will now serve as head of The Bombay Company. "Through Hermes-Otto International's extensive sourcing and sales networks and my own long-term experience with Bombay, we plan to grow the brand by creating new and classic Bombay products and developing long-term partnerships with key retailers."
The rejuvenated Bombay collection launched in the United States last fall with programs targeting specialty and department store distribution.