Ed Hardy Sale
Apparently Christian Audigier wants to sell his company for $700 million. What Christian Audigier forgets to say is he doesn’t actually own Ed Hardy, which was the brain-child of Stephen Howl and Don Ed Hardy who merely lease Christian the license.
AUDIGIER’S EXIT PLAN: Christian Audigier wants to sell his company and is in talks with private equity firms, apparel manufacturers in California, and European firms — more than 15 in all — about buying the business, which encompasses 10 brands and includes his namesake label and the tattoo-inspired line Ed Hardy. Audigier said he may sell the brands separately. One thing is certain: He’s asking for at least $700 million for the entire company, a high price in these straitened times. With 92 licensees, the Culver City, Calif.-based firm expects wholesale sales to more than double to $300 million this year from a year ago. Audigier couldn’t provide estimates for the retail operations, which include 23 stores he owns and 42 stores run by franchisees. Having already signed leases for 12 new stores next year, he said denim veteran Hubert Guez recently joined the company as chief executive officer.