Sport Brands International continued with its focused approach last week as the new parent company of Fila announced it had agreed sell Enyce and its sister brand, Lady Enyce, to Liz Claiborne, Inc. for approximately $114 million, including the retirement of debt. The transaction, which is subject to Hart-Scott-Rodino review, is expected to be completed in early December.
Enyce president Evan Davis and the balance of the senior management team are expected to remain with the company. SBI named Davis president of Enyce in July 2003 after the newly formed entity purchased the Fila, Enyce and Ciesse Piuimini brands from Italy-based Fila Holdings. Mr. Davis originally joined Enyce after serving as national sales manager and chief merchandiser for Mecca USA…
Enyce is projected to generate net sales of approximately $95 million in fiscal 2003, with 84% of sales from Mens product and 16% from Womens product.
SBI said it will focus on “the growth of the Fila brand” and the Ciesse Piuimini winter-sports brand.