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McCubbin: Acquisitions Are Accelerating Growth

Yummie and Pendleton product from McCubbin.
Yummie and Pendleton product from McCubbin.

(Filed Under wholesale Hosiery News). McCubbin Hosiery, a specialist in leg wear, slippers, and soft-soled footwear, has a long history of growth, but recent acquisitions have accelerated its expansion. Next year it predicts sales will be in excess of $135 million.

Founded over 60 years ago, the company completed its most recent takeover, that of Leg Apparel, in July. In April McCubbin purchased the Trumpette brand of infant’s hosiery. And in December of 2016 it acquired Robeez, a baby and toddler soft-soled footwear brand from Stride Rite, a subsidiary of Wolverine World Wide.

In an exclusive interview with BODY, president David McCubbin began by discussing the most recent deal. “Leg’s strength in sales would be Walmart, private label and off price accounts. The integration is in process but it will be into 2019 before it’s complete. Opening price point is their strength,” he added, listing other customers as “Dollar General, Big Lots, Marmaxx, Ross, Boscov’s.”

The Trumpette and Robeez acquisitions strengthened the company’s children’s business, and both brands have been ”fully incorporated into the company,” said McCubbin. “We have a president of that division named Michael Rimler. Robeez is sold in Nordstrom, Dillard’s, Von Maur, Amazon, on our direct to consumer site and many specialty stores through the U.S., Canada, Europe and we have recently launched in Asia.”

Robeez footwear ranges in retail price from $26 to $38. The Trumpett brand is sold in “Bloomingdales, Nordstrom, specialty stores, Amazon” among other retailers.

Over the years McCubbin’s growth has also come from its company-owned brands, a number of licensed brands and private label programs with stores. On its website it mentions relationships that include Walmart, Costco, Target and Kohl’s.

“Life is Good is the most recent brand we now license,” said McCubbin of the label the company uses for women’s, men’s and kids’ socks. Yummie, which the firm has used since 2015 for women’s socks and tights, is another strong license for the company. Among the other labels listed on the McCubbin website are Free Country, Disney Baby, Pendelton, Tretorn, Stride Rite, Absorba, Socktopia and Mini Marilyn.

While the company may be growing faster now, David and his brother Mark, the chairman, have been at the helm for a long time. “We took over officially in January 1982 - at ages 24 and 25,” remembered David McCubbin.

His grandfather, Chester McCubbin, founded the firm in 1952. “My father was in the business from 1952 to 1967, then went to be a teacher and eventually a headmaster of a private school.” Grandmother Margaret McCubbin ran the company in the intervening years until the brothers took over.

A catalyst in the recent rapid growth of the family business was a controlling interest acquired by the private equity firm Guardian Capital Partners at the end of 2013. Concluded David McCubbin, “We are excited about the recent acquisition of a Leg Apparel and appreciate the financial support and guidance by Guardian Capital Partners. We have an excellent team of employees ready to help us in our future global growth.” — NM.

more wholesale Hosiery News >>

Published 11-08-2018 by Nick Monjo

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McCubbin: Acquisitions Are Accelerating Growth

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