56Chevy
11 years ago
Xcel Brands Inc. Completes $13MM Senior Financing
NEW YORK, Aug. 5, 2013 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (OTCQX:XELB), a leader and innovator in Omnichannel retail sales and owner of the Isaac Mizrahi New York brand, today announced that on August 1, 2013 the Company completed a $13 million senior term loan with Bank Hapoalim, which was used to refinance its previous senior debt facility with MidMarket Capital Partners and for general working capital purposes. The new term loan will bear interest at a rate of 4.44%, payable quarterly, and has a five year term. The new senior term loan is expected to lower the Company's annual interest expense, and provides the company with additional operating flexibility.
Separately, on June 7, 2013, Xcel completed a $5 million private placement of its common stock. Threadstone Partners LP acted as the placement agent. These transactions are part of the Company's continuing efforts to decrease net leverage, which includes the Company's settlement of $1.4 million of future payment obligations and the reduction of $6.3MM of contingent obligations in December 2012, and provides Xcel with additional working capital and flexibility for future growth.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc., said, "I am pleased with the progress that we have made with the repositioning of the Isaac Mizrahi New York brand. These recent capital transactions position us well for the future."
http://ir.xcelbrands.com/releasedetail.cfm?ReleaseID=782799
eet2
11 years ago
Xcel Brands Inc. Completes $13MM Senior Financing
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Xcel Brands, Inc. (OTCBB:XELB)
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Xcel Brands, Inc. (OTCQX:XELB), a leader and innovator in Omnichannel retail sales and owner of the Isaac Mizrahi New York brand, today announced that on August 1, 2013 the Company completed a $13 million senior term loan with Bank Hapoalim, which was used to refinance its previous senior debt facility with MidMarket Capital Partners and for general working capital purposes. The new term loan will bear interest at a rate of 4.44%, payable quarterly, and has a five year term. The new senior term loan is expected to lower the Company's annual interest expense, and provides the company with additional operating flexibility.
Separately, on June 7, 2013, Xcel completed a $5 million private placement of its common stock. Threadstone Partners LP acted as the placement agent. These transactions are part of the Company's continuing efforts to decrease net leverage, which includes the Company's settlement of $1.4 million of future payment obligations and the reduction of $6.3MM of contingent obligations in December 2012, and provides Xcel with additional working capital and flexibility for future growth.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc., said, "I am pleased with the progress that we have made with the repositioning of the Isaac Mizrahi New York brand. These recent capital transactions position us well for the future."
About Xcel Brands, Inc.
Xcel Brands engages in the acquisition, design, licensing and marketing of consumer brands incorporating an OMNICHANNEL sales strategy inclusive of interactive media, digital and bricks and mortar retail. In 2011, the company acquired designer apparel brand Isaac Mizrahi New York and an interest in Liz Claiborne New York, quickly expanding into 100+ categories for the Isaac Mizrahi brand. The company's executive management team possesses significant talent, experience and a proven track record of success to create and grow branded consumer products businesses. www.xcelbrands.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this press release are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors, all of which are difficult or impossible to predict and many of which are beyond the control of Xcel, which may cause the actual results, performance or achievements of Xcel to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, uncertainty regarding the results of Xcel's acquisition of additional licenses, continued market acceptance of current products and the ability to successfully develop and market new products particularly in light of rapidly changing fashion trends, the impact of supply and manufacturing constraints or difficulties relating to Xcel's licensees' dependence on foreign manufacturers and suppliers, uncertainties relating to customer plans and commitments, the ability of licensees to successfully market and sell branded products, competition, uncertainties relating to economic conditions in the markets in which Xcel operates, the ability to hire and retain key personnel, the ability to obtain capital if required, the risks of litigation and regulatory proceedings, the risks of uncertainty of trademark protection, the uncertainty of marketing and licensing acquired trademarks and other risks detailed in Xcel's SEC filings. The words "believe," "anticipate," "estimate," "expect," "confident," "continue," "will," "project," "provide" "guidance" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date the statement, was made. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. Xcel undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: Media Contact:
Erika Stair, Xcel Brands, Inc.
+ 1 (347) 727-2476, estair@xcelbrands.com
Investor Relations:
Seth Burroughs, Xcel Brands, Inc.
56Chevy
12 years ago
Xcel Brands, Inc. Announces Licensing Deal With Jerry Leigh
Date : 01/03/2013 @ 9:00AM
Source : GlobeNewswire Inc.
Stock : Xcel Brands, Inc. (QB) (XELB)
Quote : $1.5 0.0 (0.00%) @ 4:40PM
Xcel Brands, Inc. (OTCQB:XELB) has signed an exclusive licensing agreement with Jerry Leigh. This agreement will give Jerry Leigh the license to manufacture and distribute girls' apparel for the Isaac Mizrahi New York brand. The collection will be available at retail in Fall 2013.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc. said, "I am very excited to partner with Jerry Leigh to launch girls' apparel in Fall 2013. We anticipate that we will execute additional licenses in the children's category to fully complement our children's collection. The Isaac Mizrahi brand brings an exciting point of view to children's apparel and accessories."
Andrew Leigh, President, Jerry Leigh, said, "I am thrilled to be working with Xcel Brands and Isaac Mizrahi to launch girls' 4-16 apparel. I am excited to bring Isaac's creative talents to the marketplace."
[....]
http://ih.advfn.com/p.php?pid=nmona&article=55679768
56Chevy
12 years ago
Xcel Brands Inc. Announces the Isaac Mizrahi New York Application Powered by Aurasma
Date : 09/24/2012 @ 12:46PM
Source : GlobeNewswire Inc.
Stock : Xcel Brands, Inc. (QB) (XELB)
Quote : $3.25 0.0 (0.00%) @ 5:32AM
Xcel Brands, Inc. (OTCQB:XELB) announced today the release of the Isaac Mizrahi New York Aurasma-powered mobile application. When viewing various printed images such as Isaac Mizrahi hang tags, shoebox inserts, and the Fabulous Isaac Mizrahi logo through the viewfinder of the application on a mobile device, hidden dynamic content comes to life on the screen. The groundbreaking image recognition technology will literally bring printed content to life in the form of videos, animation and more.
"We at Xcel Brands have embraced Aurasma as a cutting-edge way to bring the Isaac Mizrahi brand to life. Aurasma and our rich video content lend a new and unique way of engaging the consumer at the point of purchase and beyond," stated Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc.
"Aurasma is excited to partner with Xcel Brands to bring additional consumer engagement to the popular Isaac Mizrahi brand," said General Manager of Aurasma, Jennifer Rapp. "By augmenting a variety of brand-related images on products in stores, the Isaac Mizrahi New York app will captivate consumers with an innovative and memorable shopping experience."
The Isaac Mizrahi New York app will be available for free on the App store on September 24, 2012.
[....]
http://ih.advfn.com/p.php?pid=nmona&article=54282459
56Chevy
12 years ago
Xcel Brands, Inc. Announces Licensing Deal With Bardwil Industries
Date : 08/21/2012 @ 12:17PM
Source : GlobeNewswire Inc.
Stock : Xcel Brands, Inc." (QB) (XELB)
Quote : $3.25 0.0 (0.00%) @ 5:05PM
Xcel Brands, Inc. (OTCQB:XELB) has signed an exclusive licensing agreement with Bardwil Industries. This agreement will give Bardwil the license to manufacture table linens under the Isaac Mizrahi New York brand. The collection will be available at retail in Fall 2013.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc., said, "I am very excited to partner with Bardwil Industries. This license is a great addition to our home business."
Alan Kennedy, President, Bardwil Industries, said, "We are excited to partner with Xcel Brands in bringing Isaac Mizrahi
[....]
http://ih.advfn.com/p.php?pid=nmona&article=53897219
56Chevy
12 years ago
Xcel Brands, Inc. Announces Licensing Deal With Roma Industries, LLC
Date : 08/17/2012 @ 12:39PM
Source : GlobeNewswire Inc.
Stock : Xcel Brands, Inc." (QB) (XELB)
Quote : $3.25 0.0 (0.00%) @ 5:05PM
Xcel Brands, Inc. (OTCQB:XELB) has signed an exclusive licensing agreement with Roma Industries, LLC. This agreement will give Roma the license to manufacture and distribute women's and men's belts as well as small leather accessories under the Isaac Mizrahi New York brand. The collection will be available at retail in Spring 2013.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc., said, "I am very excited to partner with Roma on this great collection of belts. This license is a complementary
[....]
http://ih.advfn.com/p.php?pid=nmona&article=53866235
56Chevy
12 years ago
Xcel Brands, Inc. Announces Headwear Licensing Deal With Dorfman Pacific
Date :07/25/2012 @ 10:08AM
Source :GlobeNewswire Inc.
Stock :Xcel Brands, Inc." (QB) (XELB)
Quote : $3.25 0.0 (0.00%) @ 5:04PM
Xcel Brands, Inc. (OTCQB:XELB) has signed an exclusive licensing agreement with Dorfman Pacific. This agreement will give Dorfman Pacific the license to manufacture and distribute fashionable headwear designs for the Isaac Mizrahi New York brand.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc., said, "I am very excited to partner with Dorman to launch our hat collection. This license is a great addition to our accessories business."
Isaac Mizrahi, Creative Director, Xcel Brands, Inc., said, "One of the most fun things for a woman to buy is a hat. It not only adds to the look but it frames her face and gives distinction to the clothes she wears. It's the ultimate accessory."
Douglas Highsmith, President and Chief Executive Officer, Dorfman Pacific, said, "We are delighted to partner with Xcel Brands and Isaac Mizrahi. The Isaac Mizrahi name signifies fashion and quality, while Dorfman Pacific is synonymous with headwear; the new launch should prove to be amazingly successful for both parties."
Xcel Brands, Inc. ("Xcel") engages in the acquisition, design, licensing, and marketing of consumer brands. Xcel is leading the Omni Channel sales strategy across three channels of distribution including interactive media, online and brick and mortar retailers. In 2011, Xcel acquired designer apparel brand Isaac Mizrahi New York. Xcel's management team consists of executives with significant experience in creating and growing businesses in the branded consumer products industry and has a proven track record for successfully completing multiple similar acquisitions. Xcel will seek to acquire brands that it can utilize in an Omni Channel sales strategy with a focus on identifying designers or celebrities with personalities that connect directly with consumers through social and other media. www.xcelbrands.com.
http://ih.advfn.com/p.php?pid=nmona&article=53590064
56Chevy
12 years ago
Xcel Brands, Inc. Announces Licensing Deal With Glove It, LLC
Date :08/09/2012 @ 11:28AM
Source :GlobeNewswire Inc.
Stock :Xcel Brands, Inc." (QB) (XELB)
Quote : 3.25 0.0 (0.00%) @ 5:04PM
Xcel Brands, Inc. (OTCQB:XELB) has signed an exclusive licensing agreement with Glove It, LLC. This agreement will give Glove It the license to manufacture and distribute golf, tennis and active accessories for the Isaac Mizrahi New York brand. The collection will be available at retail in Spring 2013.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc., said, "I am very excited to partner with Glove It on this great line of golf, tennis and active accessories. This license marks the beginning of our presence in the active category."
Karen Lovcik, Chief Operating Officer, Glove It, LLC, said, "We are thrilled to join forces with Xcel Brands and launch the Isaac Mizrahi New York brand for golf, tennis, and active lifestyle accessories. This strategic partnership will not only allow us to enhance our product mix, but will also expand our distribution channels. Isaac's iconic designs will translate brilliantly into this active category."
http://ih.advfn.com/p.php?pid=nmona&article=53771443
BKMUC
13 years ago
Xcel Brands, Inc. (OTCQB:XELB) has signed an exclusive licensing agreement with Fleet Street. This agreement will give Fleet Street the license to manufacture and distribute women and children's outerwear under the Isaac Mizrahi New York brand. The collection will be available at retail in Fall 2012.
Isaac Mizrahi Outerwear will incorporate all classifications of coats and jackets. The silhouettes will be timeless, classic and elegant, yet modern and trend-right. They will incorporate Isaac's signature use of vibrant color and logo hardware detailing.
Robert D'Loren, Chairman and Chief Executive Officer, Xcel Brands, Inc. said, "I am very excited to be in business with Fleet Street to launch our Fall 2012 outerwear collections. This license is a great addition to our growing brand."
Isaac Mizrahi, Creative Director, Xcel Brands, Inc. said, "Coats are my favorite! A woman really bonds with her coats each season whether it's a winter coat that she wears every day or a spring raincoat or jacket. I've innovated and contributed so much to outerwear and now I'm looking forward to creating a strong position in the marketplace."
Manny Haber, President of Fleet Street, Ltd., said, "We are just thrilled to be teaming up with Isaac and Bob's most talented team at Xcel. Our reputation for innovation, fit, and quality combined with Isaac's vision of timeless fashion will produce beautiful outerwear for today's customer."
Xcel Brands, Inc. ("Xcel") engages in the acquisition, design, licensing, and marketing of consumer brands. Xcel is leading the Omni Channel retail sales strategy across three channels of distribution including interactive media, online and brick and mortar retailers. In 2011, Xcel acquired designer apparel brand Isaac Mizrahi New York. Xcel's management team consists of executives with significant experience in creating and growing businesses in the branded consumer products industry and has a proven track record for successfully completing multiple similar acquisitions. Xcel will seek to acquire brands that it can utilize in an Omni Channel retail sales strategy with a focus on identifying designers or celebrities with personalities that connect directly with consumers through social and other media. www.xcelbrands.com.
Isaac Mizrahi has been a leader in the fashion industry for almost 30 years. Since his first collection in 1987, Mr. Mizrahi's designs have come to stand for timeless, cosmopolitan style. He has been awarded four CFDA awards, including a special award in 1996 for the groundbreaking documentary "Unzipped." In December 2009, Mr. Mizrahi launched his lifestyle collection, ISAACMIZRAHILIVE! on QVC. In addition, television audiences have come to value Isaac's media presence through his roles on "Project Runway All Stars" for Lifetime, "The Fashion Show" for Bravo and his own series for both Oxygen and the Style Network. www.isaacmizrahiny.com
Fleet Street was founded in 1964 and has grown into one of America's largest outerwear resources. Initially established as a rainwear resource, the company has continually evolved into one of the most diversified suppliers in the field. Today, Fleet Street provides a comprehensive range of outerwear products to an equally expanding roster of clients ranging from exclusive specialty stores to America's largest store groups. From the start, Fleet Street put a premium on innovation that added value to its products. Equally important to the firm's growth is its reputation for quality. Three generations of American women have learned to trust Fleet Street for a coat that fits well and wears comfortably, while retailers have come to depend upon the company for coats that sell year after year.
CONTACT: Erika Stair
Vice President of Public Relations
Xcel Brands, Inc.
347-727-2476
Estair@xcelbrands.com
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