FGX acquires eyewear company
1:32 PM Thu, Oct 29, 2009 | Permalink
Email this author | Email this entry |
 |
Projo Biz Blog |
|
« U.S. Labor Dept. sues Warwick 401k plan trustee |
Main
| R.I. labor agency sides with Twin River workers on OT pay »
BY Paul Grimaldi SMITHFIELD, RI -- FGX International (FGXI: NASDAQ) said yesterday that it paid $1.45 million for Corrine McCormack Inc., a privately held company located in New York City. FGX designs and sells sunglasses, reading glasses and costume jewelry. Dioptics sells eyewear products for a number of business sectors, including the medical, mass market, sports and professional fields. FGX is the descendant of Femic Inc., which started in 1971 as a Providence manufacturer of costume jewelry. The company sold jewelry and consumer goods for years before changing its name to Accessories Associates in 1986, and to AAi.FosterGrant a decade later, when it bought the long-established sunglasses brand. Founded in 1993, Corinne McCormack also designs and sells eyewear, which is sold in more than 2,000 locations. Among the leading retailers carrying Corrine McCormack products are Bloomingdale's, Lord & Taylor and LensCrafters. The deal for Corinne McCormack comes about a year after FGX bought another firm, Dioptics Medical Products Inc., of San Luis Obispo. 
|
New comments
New photos
New posts
Projo blogs
Archives
Leave a comment