Garfield & Marks Assets Purchased by Rousso Apparel Group and Li & Fung Investment Unit

San Francisco, CA & New York, NY - A partnership consisting of Rousso Apparel Group Inc. and Li & Fung (1937) Ltd. said recently that it has acquired the assets of Garfield & Marks LLC. Terms of the transaction were not disclosed.

The Garfield & Marks collection of women's better and bridge apparel was launched in 1993 and is believed to be known for luxurious fabrics and superior style and fit. The line is carried in select department stores, as well as specialty retailers. Garfield & Marks LLC also owns the Womyn label, recognized for sophisticated casual, great fitting fashion.

"We are pleased to be acquiring two well-regarded women's brands with truly exciting potential," noted Victor Rousso, President of Rousso Apparel Group, who will serve as Chief Executive Officer of the Garfield & Marks business. "We are confident that there is a market opportunity to revitalize these brands and restore them to the strong level of sales performance we know they can command."

SOURCE: Rousso Apparel Group Inc. and Li & Fung (1937) Ltd