Axis Clothing Acquired by Salant
New York-based Salant Holding Corp., a wholly owned subsidiary of Salant Corp., recently acquired Culver City, Calif.-based Axis Clothing Corp.
The acquisition gives Salant access to upscale department stores through the Axis Menswear brand, according to Michael Setola, Salant chairman and chief executive officer.
Salant began a program of diversifying its menswear distribution in January 2001, when it acquired the better menswear brand Tricots St. Raphael.
The new acquisition is beneficial to Axis as well, providing that brand with access to sourcing and growth, according to Richard Solomon, Axis president and CEO.
“This partnership will afford us the benefit of an extensive sourcing network as well as an ability to concentrate on our aggressive growth plans for the brands,” said Solomon.
Solomon, who acquired Axis in 1990, will remain as the head of the brand.
Salant also markets and distributes Perry Ellis menswear to major department and specialty stores in the United States. The company recently formalized its Private Brands division to service the mid-tier and discount levels of distribution with private-label design and manufacturing packages for menswear products. —Darryl James
