Article: PEGASUS ADDS TO PORTFOLIO, ACQUIRING JUDITH LEIBER.(Brief Article)(Statistical Data Included)

Article from:
WWD
Article date:
September 21, 2000
Author:
Copyright

NEW YORK -- Venerable handbag house Judith Leiber has a new owner.

Ending months of speculation, Pegasus Apparel Group agreed Wednesday to purchase 100 percent of the luxury firm for $13.2 million from the U.K.-based fine watch distributor, Time Products Inc.

The price seems to represent a bit of a bargain for Pegasus and a loss for Time Products, which anted up $18.2 million for the Leiber business in March 1993. Industry sources put the company's combined wholesale and retail volume at roughly $23 million.

This is the second accessories deal for Pegasus. In July, the company took a majority stake in the Angela Amiri handbag firm. That deal ...

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