financial
financial

GarfieldMarks Sets Sale Agreement

GarfieldMarks LLC is being acquired by LF 1937 Ltd., a division of Li & Fung, and Rousso Apparel Group.

Last summer, the new owners hired a design team and management, including Marks in an advisory role, for the GarfieldMarks and Womyn lines. They predicted 2007 sales would be $40 million.

Rousso Apparel Group is a predominately moderate apparel firm. Better lines, like the new niche label Naturally Organic World, make up 22 percent of its sales, according to company president Amy Taub Kahn, who said last month that the firm was trying to grow this higher-margin side of the business.

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