USA -- Tandy Brands Accessories announced that VF Corporation and the Chambers Belt Company have agreed to transfer both the Wrangler Mass and Western/Specialty belt licenses from Chambers Belt Company to Tandy Brands. The transfer became effective today upon Tandy’s acquisition of the Chambers name and other strategic assets.
“We are very pleased to transfer the licenses for our Wrangler Mass business to Tandy Brands,” said Phillip Dunn, President of Wrangler Mass Division. “We are confident that the new Tandy organization will not only ensure excellent service and product quality, but given their relationship with key mass merchants, will also help us to effectively grow the Wrangler business.”
In addition to the Wrangler Mass belt license, Tandy Brands also gains the Wrangler Western/Specialty belt license. This license gives Tandy the right to market and distribute Wrangler products across a variety of accounts, ranging from larger retailers such as Tractor Supply Company, Cabela’s and Academy Sports to hundreds of specialty stores across the United States, Canada and Mexico.
“We’re pleased to be able to transfer the license to Tandy Brands,” said Phil McAdams, President of the Wrangler Western/Specialty Division. “The new Tandy/Chambers organization is well positioned to maximize the business.”
“The Wrangler brand is an authentic lifestyle brand that is highly regarded by both consumers and retailers,” said Rod McGeachy, President and Chief Executive Officer of Tandy Brands. “The Wrangler Mass and Specialty licenses will be significant additions to our license portfolio and exemplify the high quality, top-echelon brands with which we want to partner.
“We are very excited to work with the Wrangler brand. We expect these licenses to be sizeable contributors to revenue growth this fiscal year and accretive to earnings from day one,” said Mr. McGeachy. “Moreover, when you couple these new licenses with the other strategic assets we’re acquiring from Chambers, such as the private label business, talented employees and Mexican manufacturing capacity, it underscores how well positioned Tandy is for future growth.”
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