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Oxford Apparel Selling
Wednesday, 24 November 2010

November 24--  An international trading company is buying almost all of Oxford Apparel, according to an announcement this week from Oxford Industries.

The Li & Fung Group has agreed to pay $121.7 million in a deal expected to close at the end of December.

The purchase does not include Oxford Golf nor the Oxford Distribution Center in Lyons, according to Tony Toole, the local vice-president for operations. 

"We don't anticipate a loss of any jobs here in Lyons.  A portion of the employees here will become Li & Fung employees and a portion will remain Oxford employees.  We will continue running our product through the Distribution Center here in Lyons and it's a chance for us to pick up some of the customers that currently deal with Li & Fung," Toole said.

Toole is also optimistic about the future.  "I think it has the potential to be very positive.  We've spoken to the Li & Fung folks and they are interested in building a menswear division which they didn't have before.  They are interested in investing in that and hopefully that's going to mean more business and an opportunity to grow," he said.

According to Toole, "It's a big company, about a $20 billion company with 35,000 employees worldwide.  They work in 40 different companies and they are aggressively growing their business in the U.S., and that's what we will become a part of."

 
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