03.24.10
Tailored Menswear Company Has Been Sold to Private Equity Player Grano Retail Investment
Tailored menswear company Samuelsohn, Ltd., which makes private-label suits for the Harry Rosen retail chain, has been sold to private equity player Grano Retail Investments of Toronto for an undisclosed sum.
The 87-year-old suit brand, which does 70% of its sales in the U.S. at retailers such as Paul Stuart, is headquartered and manufactured in Montreal and employs about 300.
“We think we can double to triple the size of the business in three to five years by expanding into shirts, ties, sportswear and outerwear,” said Stephen Granovsky, founder and chief executive of Grano and the new chief executive of Samuelsohn.
“We think there are also growth opportunities in partnerships with other retailers — we see a huge export opportunity for this business. We intend to invest heavily in marketing and sales.”
Paolo Torello-Viera, who worked formerly as chief operating officer of Brioni Retail U.S. and executive-vice-president of Ermenegildo Zenga Group, has been named Samuelsohn’s chief operating officer.
At Harry Rosen, Samuelsohn suits, jackets and pants are sold under the brand name JP Tilford by Samuelsohn.
