Description of Oxford Industries Inc's Business Segments
Tommy Bahama
Tommy Bahama designs, sources, markets and distributes mens and womens sportswear
and related products. The target consumers of Tommy Bahama are primarily affluent
men and women age 35 and older who embrace a relaxed and casual approach to
daily living. Tommy Bahama products can be found in our Tommy Bahama stores
and on our Tommy Bahama e-commerce website, tommybahama.com, as well as in better
department stores and independent specialty stores throughout the United States.
We also operate Tommy Bahama restaurants and license the Tommy Bahama name for
various product categories.
We believe that the attraction of the Tommy Bahama brand to our consumers is
a reflection of our efforts over many years of maintaining appropriate quality
and design of our Tommy Bahama apparel, accessories and licensed products, limiting
the distribution of Tommy Bahama products to a select tier of retailers and
effectively communicating the relaxed and casual Tommy Bahama lifestyle to consumers.
We expect to continue to follow this approach for the brand in the future.
We believe there is ample opportunity to expand the reach of the Tommy Bahama
brand, while at the same time maintaining the select distribution that Tommy
Bahama has historically maintained. We believe that in order to take advantage
of opportunities for long-term growth, we must continue to invest in the Tommy
Bahama brand both domestically and internationally. These investments include
amounts associated with capital expenditures and pre-opening expenses of new
stores and restaurants; the remodeling of existing stores and restaurants; capital
expenditures and ongoing expenses to enhance e-commerce and other technology
capabilities; and capital expenditures related to distribution and other facilities.
We believe there are abundant opportunities for continued growth in the United
States through direct to consumer expansion as well as developing a more significant
womens business in the long-term. Tommy Bahamas womens business represented
29% of Tommy Bahamas full-price direct to consumer sales but a much lower percentage
of Tommy Bahamas wholesale sales. In recent years we began expansion of the
Tommy Bahama brand into international markets.
Lilly Pulitzer
Lilly Pulitzer designs, sources, markets and distributes upscale collections
of womens and girls dresses, sportswear and related products. The Lilly Pulitzer
brand was originally created in the late 1950s by Lilly Pulitzer and is an
affluent brand with a heritage and aesthetic based on the Palm Beach resort
lifestyle. The brand is somewhat unique among womens brands in that it has
demonstrated multi-generational appeal, including young women in college or
recently graduated from college; young mothers with their daughters; and women
who are not tied to the academic calendar. Lilly Pulitzer products can be found
in our owned Lilly Pulitzer stores, in Lilly Pulitzer Signature Stores, which
are described below, and on our Lilly Pulitzer website, lillypulitzer.com, as
well as in better department and independent specialty stores. During
We believe that there is significant opportunity to expand the reach of the
Lilly Pulitzer brand, while at the same time maintaining the exclusive distribution
that Lilly Pulitzer has historically maintained. We believe that in order to
take advantage of opportunities for long-term growth, we must continue to invest
in the Lilly Pulitzer brand. These investments include amounts associated with
opening and operating new stores, costs to enhance e-commerce and other technology
capabilities and an increase in employment, advertising and other costs to support
a growing business. While we believe that these investments will generate long-term
benefits, the investments may have a short-term negative impact on Lilly Pulitzers
operating margin.
Lanier Apparel
Our former Lanier Clothes operating group and Oxford Golf business, which was
previously included in Corporate and Other, were combined into our Lanier Apparel
group. We believe that this combination of the two businesses provides additional
opportunities for growth for each of the businesses in the future. The Lanier
Clothes business, an efficient operator that excels in sourcing, production,
logistics, distribution and tailored clothing design, lacked an appropriate
level of sportswear design expertise. At the same time the Oxford Golf business
provides wonderful sportswear and golf designs for the Oxford Golf brand and
private label customers, but lacked sufficient sales volume and relationships
with large retailers. We believe the combination of the tailored clothing and
Oxford Golf businesses provides excellent opportunities for the businesses to
leverage their combined skills, which should allow for greater opportunities
for sales growth and cost savings efficiencies in the future.
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