(Filed Under Fashion News). Just over a month after announcing plans to seek alternatives for Movie Star, Frederick’s of Hollywood has sold the wholesale division to Dolce Vita Intimates LLC.
Thomas Lynch, chairman and CEO of Frederick’s, said this sale will help the company’s finances and focus on its retail business. “We are focused on transforming Frederick’s of Hollywood into a complete sexy lifestyle brand through domestic and international licensing agreements to support our entrance into new product categories and markets,” he said. “The proceeds from the sale of our wholesale business have further bolstered our cash position. When combined with the significant capital events that took place over the last fiscal year, we are now better positioned to support the ongoing financial requirements of our continuing operations and the implementation of our growth strategy.”
Avalon Group Ltd., an investment banking firm, advised Frederick’s on this transaction. CoView Capital Inc. advised Dolce Vita.
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