Mexx
From Wikipedia, the free encyclopedia
| Mexx | |
|---|---|
 |
|
| Type | Subsidiary |
| Founded |  Netherlands (1986) |
| Headquarters | Voorschoten, Netherlands |
| Industry | Fashion |
| Products | Clothing Accessories Perfumes Linen |
| Employees | 700 (2008)[1] |
| Parent | Liz Claiborne Inc. |
| Website | mexx.com |
Mexx is a clothing chain and design firm that operates stores around the world. The company sells clothing and accessories for men, women, and children. The brand is a wholly-owned subsidiary of the Liz Claiborne fashion company since 2001.[2]
[edit] History
In the 1970's fashion designer Rattan Chadha supplied clothes for department and wholesale stores in the Netherlands specifically designed and labelled for the stores. Revamping his business in 1980 he created two popular clothing brands - "Moustache" for men and "Emanuelle" for women. Both labels have coordinated collections whose identities focus on lifestyle and youth fashion. In 1986 the two brand names were merged to form: M (from Moustache) + E (from Emanuelle) + XX (an abbreviation for "kiss kiss" ) to create MEXX.[3] In 1990 Mexx launched a new line - Mexx Kids, followed in 1996 by Babymexx.
Overtime, Mexx has grown to become an international brand with stores in over 65 countries. It has grown rapidly and is now an internationally prominent company, employing over 6000 people worldwide.[3]
In 2001, Mexx was bought by the U.S. fashion company Liz Claiborne for $264 million.[4]
Mexx entered the U.S. market in September 2003 with a New York City store located on 5th Avenue in a former Liz Claiborne flagship location.[5] At one time, the company had eleven stores in the U.S. The company closed seven of them in 2006 and in February 2007 announced the closing of the remaining four by fall. As of June 2007 the SoHo location closed and by late fall of 2007, that space gained acquisition by Tommy Hilfiger's denim division - Hilfiger Denim.[6] And in September 2007, the 5th Avenue store closed down, making Mexx a thing of the past in America. Mexx's sister store, Juicy Couture opened in its place, on 5th Avenue in mid-spring of 2008.[7]
Simply, Mexx couldn't keep up with its competition of other well-known, trendy European such as Zara and H&M, and simultaneously some American favorites in the U.S.[8] In 2006, Mexx only made a profit-margin of $10 million, which couldn't cover the rent in its established locations.[citation needed] Most of the earnings were made from its former flagship in New York, ultimately following up to its closing the following year.
[edit] References
- ^ Office. Mexx. Retrieved on 2008-05-06.
- ^ Our Brands. Liz Claiborne (2008). Retrieved on 2008-05-06.
- ^ a b Who's Mexx?. Mexx. Retrieved on 2008-05-06.
- ^ Liz Claiborne Agrees to Buy Mexx Group For $264 Million and 'Earnout' Payment. Wall Street Journal (2001-05-17). Retrieved on 2008-05-06.
- ^ Mexx Lands in USA. International Council of Shopping Centers (2003). Retrieved on 2008-05-06.
- ^ Hilfiger Denim Arrives in the U.S.. DNR (2007-12-10). Retrieved on 2008-05-06.
- ^ Storecasting: Fifth Avenue Gets Juicy. Racked (2008-03-24). Retrieved on 2008-05-06.
- ^ Mexx to close 61 stores across the UK. Forbes (2008-02-27). Retrieved on 2008-05-06.
