Ellen Tracy(R) Brand Begins New Chapter

New Investors Plan Significant Design and Marketing Initiatives

NEW YORK, April 10 /PRNewswire/ - An investment group led by Windsong
Brands LLC and Hilco Consumer Capital, along with Radius Partners and the
private investment office of Barry Sternlicht, today announced the formation
of Fashionology Group LLC ("Fashionology") to acquire the Ellen Tracy(R) brand
and all associated assets from Liz Claiborne, Inc. Fashionology will own Ellen
Tracy LLC, a newly-formed company that will operate the core Ellen Tracy
bridge sportswear business.
William Sweedler, Chairman & CEO of Windsong Brands, and Jamie Salter, CEO
of Hilco Consumer Capital, will serve as co-chairmen of Fashionology, which
will have a broad array of advisors and investors, including Marvin Traub,
Barry Sternlicht, David Lipman and several other soon-to-be-named industry
veterans. A new CEO and Creative Director for Ellen Tracy will also be
announced in the near future. Marvin Traub will be chairman of Ellen Tracy
LLC.
Mr. Traub stated, "I am delighted to be part of the new Ellen Tracy and
working with Bill and Jamie. I believe we have a great opportunity to restore
the company to its prominence in the evolving Bridge sector."
Bill Sweedler added, "Our goal is to pay tribute to the original DNA of
Ellen Tracy and bring back the greatness from the Linda Allard Era. In
addition, our new partners, Jamie Salter and the Hilco Consumer Capital team,
are certain to add great value to the brand-building process as evidenced by
their early success at Halston. We are all looking forward to working with our
highly-experienced board and advisory team."
Jamie Salter stated, "We are close to announcing our new design and
management leadership. I'm very excited by our preliminary marketing plans to
support the re-invigoration of Ellen Tracy and we look forward to working with
David Lipman of the Lipman Agency on these initiatives."
David Lipman stated, "I have such amazing memories of the years when Cindy
Crawford was the muse of the Ellen Tracy ad campaigns. It's exciting to be
part of the re-invigoration of the brand."
Simultaneous with the Ellen Tracy acquisition, Fashionology Group will
also acquire CJ Apparel Group and several brands including Caribbean Joe(R)
from Hilco Consumer Capital. Ellen Tracy and Caribbean Joe will operate as
independent entities under the Fashionology Group umbrella. Combined revenues
will exceed $200 million.
In addition, the investment group has formed a new company, B(R)and
Matter, LLC to manage, market, and license the intellectual property for both
the Ellen Tracy and Caribbean Joe brands. B(R)and Matter will be managed
initially by Salter and Sweedler. Their combined licensing experience from
both Collective Brands and Iconix Brand Group will be employed to build a
licensing and brand management platform. B(R)and Matter will grow its royalty
revenues and intellectual property portfolio by partnering with best in class
licensees and through the strategic acquisition of high quality consumer
brands.
About Fashionology Group LLC
Fashionology Group LLC produces branded consumer apparel for men, women,
and children. Fashionology provides best in class solutions for its retail
partners. The company holds exclusive licenses for the Ellen Tracy, Caribbean
Joe Island Supply Company, CJ Apparel, Havana Jack Cafe, Jamaica Bay, and
Periscope. Fashionology Group's partners and customers are found in every
major channel of distribution including specialty stores, department stores,
and resorts.
About B(R)and Matter LLC
B(R)and Matter, LLC owns, licenses and markets a portfolio of consumer
brands including Ellen Tracy, Company by Ellen Tracy, Caribbean Joe Island
Supply Company, CJ Apparel, Havana Jack Cafe, Jamaica Bay, and Periscope. The
company licenses its brands to best in class manufacturers, wholesalers, and
retailers that focus on specialty and department store segments of retail
distribution in both the U.S. and around the world. The Brand Matter team
strives to build brand loyalty from its consumers through its in-house
marketing, design, and public relations team.
About Hilco Consumer Capital L.P.
Hilco Consumer Capital ("HCC") (www.hilcocc.com) is a private equity firm
that makes strategic investments in consumer lifestyle brands through
acquisitions of North American manufacturers, wholesalers, intellectual
property and retailers. HCC investments range from $25 million to $250
million. Current portfolio brands and companies include Caribbean Joe(R),
Ellen Tracy, Halston(R), Tommy Armour Golf(R), RAM Golf(R), and Bombay Brands,
LLC. HCC is a unit of The Hilco Organization, a Chicago-based, international
provider of diversified financial and operational services, including business
asset valuations, asset acquisition and disposition services, M&A services and
retail consulting.
About Windsong Brands LLC
Windsong Brands, LLC (www.windsongbrands.com) is a private equity firm
that focuses on investments in leading middle market consumer companies that
own strong recognizable brands. The team has a diverse background of consumer
expertise that assists and guides company management to unlock the true
potential of their brand. Windsong Brands makes majority and minority
investments in both public and private companies. Investments and portfolio
brand companies include Ellen Tracy, Caribbean Joe, Joe's Jeans, Field &
Stream, Como Sport, and Alerion Aviation.
About Radius Partners LLC
Radius Partners LLC (www.radiuspartnersllc.com) provides special
situation/unique investment opportunities in both growth and distressed
mid-market companies, with a primary focus in the industrial manufacturing,
distribution, consumer, and entertainment sectors. Radius has operational and
financial expertise specifically designed to assist and enhance portfolio
company operations and profitability. Radius maintains funding relationships
with several large private equity funds, hedge funds and alternative asset
managers.
SOURCE Hilco Consumer Capital LLC

Press Contact: Ken Ragland, COO Fashionology, (212) 515-5301,
kragland@fashionologygroup.com; Sarah Neff, Marketing Manager, B(R)and Matter,
sneff@brand-matter.com