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Article: MADLY MERGING FIRMS REMAKE SEVENTH AVE.: GIANT FIRMS TRY TO PLEASE WALL ST. WITH NEW LINES; DEALS ARE RISKY.
- Article from:
- Crain's New York Business
- Article date:
- March 15, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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There's one size that fits the apparel industry these days: extra large.
Earlier this month, Polo Ralph Lauren announced plans to buy Canadian retailer Club Monaco. The next day, Jones Apparel Group Inc. moved to double its size by purchasing shoe company Nine West Group Inc. In all, 12 acquisitions or mergers have been announced so far this year, putting the industry on pace to top last year's 31 deals. By comparison, according to Securities Data Co., there were only 23 similar transactions in 1997.
More deals are clearly coming. Liz Claiborne Inc., New York's largest publicly held apparel company, acquired $60 million women's apparel maker Segrets in ...