Delia’a Inc. has entered an agreement to sell its CCS brand to Foot Locker Inc. for $102 million in cash. The deal is expected to close within 60 days.
CCS markets apparel, footwear, skateboards and snowboards for teenage boys through catalogs and the Internet. Monthly catalog circulation averages 1.7 million. The catalogs generate $75 average orders.
In announcing the divestiture of its CCS brand, Delia’s said it plans to focus more on its core Delia’s and Alloy brands. These offer products for teenage girls and young women through age 19 through catalogs, Web sites and retail stores
“We are pleased with the opportunity to significantly strengthen our balance sheet and achieve the valuation afforded to the CCS brand,” said in a statement Robert Bernard, CEO of Delia’s.
Delia’a Inc. has entered an agreement to sell its CCS brand to Foot Locker Inc. for $102 million in cash. The deal is expected to close within 60 days.
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