Men Only, Please
Ben Sherman announced it is getting out of the womenswear business and sticking to menswear. Womenswear is responsible for only 10 percent to 15 percent of the line’s revenues. Earlier this year, the company, which is a division of Atlanta-based Oxford Industries Inc., turned its childrenswear and footwear businesses over to a licensee. In the third quarter, ending Oct. 31, Ben Sherman’s net sales totaled $29.8 million, down nearly 22 percent from $38.2 million during the same period last year. Miles Grey, the current chief executive of the Ben Sherman Group, is leaving at the end of the year to become non-executive chairman of the group. He will be replaced by Pan Philippou, who was group chief executive of British clothing company WDT.
