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Article: Claiborne buys Ellen Tracy.
- Article from:
- WWD
- Article date:
- October 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Conde Nast Publications, 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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NEW YORK -- After flirting with potential suitors for more than a decade, Ellen Tracy has finally accepted a proposal from Liz Claiborne Inc., giving the company a firm grasp on the bridge category in the process.
Liz Claiborne said Monday it has bought 100 percent of the stock of Ellen Tracy Inc., one of the longest-standing and most successful American bridge companies, for about $180 million. The move gives the apparel giant control of two of the largest core bridge players in department stores, including its own Dana Buchman division.
"The timing is right," said Herbert Gallen, chairman and chief executive officer of Ellen Tracy, the company he ...