PVH Corp., which owns G.H. Bass & Co., signed an agreement this week to sell its business to G-III Apparel Group Ltd. for roughly $50 million. The deal is expected to close in PVH’s fiscal fourth quarter, which begins next month.
Since 2007, Bass has licensed its name to Harbor Footwear Group Ltd. for men’s, women’s and children’s shoes.
According to Barry Specht, VP of marketing for Port Washington, N.Y.-based Harbor, the company does more than $30 million in wholesale business with the label in distribution channels that include Macy’s and Lord & Taylor, as well as overseas retailers.
“We see this [move] as an opportunity,” Specht said about the label’s change in ownership.