NEW YORK, Nov. 3, 2014 (GLOBE NEWSWIRE) -- Hilco Streambank has been retained to sell the Naartjie® Kids brand and the Company's interests in its South African subsidiary. The assets include the worldwide trademark portfolio, the NaartjieKids.com e-commerce platform, customer files and domain names. The assets also include the Company's interests in its wholly owned South African subsidiary ZA One. The assets will be sold through a chapter 11 bankruptcy sale process. The bid deadline has been set for November 21st, 2014.
Naartjie is a leading provider of fashionable children's apparel in North America and South Africa. The brand was founded in 1989 in Cape Town, South Africa to create an alternative to the basics-dominated children's clothing brands that were available in the marketplace. From its beginning, Naartjie has been a product-focused company generating new customers primarily through concentrating on its unique assortment and design elements. The Company differentiates itself by infusing classic European / Western / African design with retro influence and an appreciation for fine-and-functional modern detail to produce high-quality, highly-desirable goods.
In Fiscal Year 2014, Naartjie generated $54.4 million of sales through its 82 retail stores across the U.S. (55) and South Africa (27), as well as a rapidly expanding e-commerce platform serving customers in over 30 countries worldwide.
"Naartjie presents a unique opportunity to acquire the assets of an internationally recognized children's apparel brand with differentiated content and a loyal customer base" said David Peress, EVP of Hilco Streambank. "We're already generating a significant level of interest in these assets" said Mr. Peress.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
Due diligence materials are available in an electronic data room. Parties interested in finding out more about this sale should contact Hilco Streambank directly using the contact information provided below:
Hilco Streambank Hired In Naartjie(R) Kids Chapter 11 Bankruptcy
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| Source: Hilco Global