Oxford Industries Looking to Sell Ben Sherman

Back in 2014, Oxford Industries acquired British apparel brand Ben Sherman for $146 million USD. Now, the company is looking to sell the brand again, after it posted strong fourth-quarter results following a long struggle to return it to profitability. While Ben Sherman has been struggling for a while, unable to achieve an operating profit in either the fourth quarter or all of last year, the company managed to cut its losses by a substantial amount and help the label return to sales growth. Last year, operating losses were reduced to $861,000 USD as opposed to $2.6 million USD the year before, while sales were up 26.6 percent. These positive results and upturn have convinced Oxford Industries that the label is now an attractive acquisition target. The sale would allow Oxford Industries to focus on its larger and more profitable brands, Tommy Bahama and Lilly Pulitzer.