Second Generation Sells Its Juniors Labels to L.A. Company
Second Generation, a juniorswear company founded in Los Angeles in 1996, has sold its three juniorswear labels to a Los Angeles company associated with Star Fabrics.
The three labels sold on March 20 were BeBop, Fishbowl and Gypsies & Moondust, said Michael Weisberg, the company’s chief executive, who did not disclose the price paid by Adir Haroni, who owns Secret Charm, Star Fabrics and City Triangles. Haroni formed a new company, called Second Generation LLC, to buy the labels.
Second Generation was started by Weisberg; his father, Shelly Weisberg; and his brother Gregg Weisberg as a small juniorswear company whose main clients are Macy’s, Stage, Belk and T.J. Maxx, among others.
Over the years, Second Generation grew and eventually moved into a 40,000-square-foot building the company bought in Vernon, Calif., where the venture’s warehouse is located. Last year, the company’s revenues were $24 million.
“It was kind of the right thing to do at the right time, but it has been very difficult to let go of something the family has been very proud of,” said Michael Weisberg, an attorney who put his law ambitions on hold to help out his father and brother run the apparel company. “I thought I would go back to practicing law, but that never happened.”
Last August, Weisberg did start practicing law again with the law firm Brutzkus Gubner Rozansky Seror and Weber, located in Woodland Hills, Calif., but he still remains a partner in Wild Horses Apparel, a Los Angeles company that owns the juniorswear label Emerald Sundae.
Secret Charm, whose chief executive is Adir Haroni, plans to run the recently acquired juniorswear labels as fairly autonomous brands, Weisberg said, with all the same employees moving to Secret Charm’s headquarters near downtown Los Angeles.