DODGEVILLE, Wis. (AP) _ Lands’ End Inc., the catalog company known for its conservative button-down shirt, says its first acquisition since being founded in 1963 adds more colorful, casual attire with ″an outdoor flavor.″
Lands’ End announced Wednesday it has purchased a majority stake in the Territory Ahead Inc., a mail order house based in Santa Barbara, Calif.
Lands’ End intends to operate The Territory Ahead as a separate business, the first time that it will have a catalog under a different name.
The terms of the deal were not disclosed.
The Territory Ahead has about 50 employes and sales of $6 million a year. It was founded in 1988 by Bruce Willard, 37, and his wife, Jodie Ireland, 36, and sells private-label sportswear, accessories and luggage.
It also designs colorful casual merchandise and stresses ″fine detailing, unique fabrication, updated styling and excellent quality,″ Lands’ End said.
Willard will continue as president and chief executive officer of the company. Ireland will remain as the company’s catalog director and copywriter. Previously, Willard was with sportswear-maker Esprit de Corps and mail-order giant L.L. Bean.
Lands’ End, the nation’s leading mail order retailer of men’s shirts and ties, also recently introduced a new menswear catalog titled ″Beyond Buttondowns.″ The new styles were aimed at capitalizing on the intermediate dress code many men find at the office today, the cataloger said.
Lands’ End sales were $734 million in the year that ended Jan. 29.