NexCen taps Platt for home
By Furniture Today Staff -- Furniture Today, May 21, 2007
New York — Rick Platt has joined NexCen Brands as president of the company's newly acquired Waverly brand and NexCen's home division.
Platt has been managing director of Official Pillowtex, where he was responsible for brands including Cannon, Fieldcrest, Royal Velvet, Charisma, Bugle Boy and Delia's. Earlier, he was senior director of retail sales and marketing at National Football League Properties, the NFL's $3 billion consumer products division.
NexCen acquired the Waverly brand last week from F. Schumacher & Co., paying $36.75 million in cash, and issuing 50,000 warrants for stock. NexCen said it expected the Waverly brand to generate about $9 million in royalty revenues and add about 7 cents per share to NexCen's earnings in the 12 months following the acquisition.
Earlier this month, NexCen announced that Marvin Traub, a consultant and former chairman and CEO of Bloomingdale's New York, has been named to its board.
The company also said last week it has hired Brenda Palmer, a consumer goods industry veteran and most recently vice president of licensing for Jordache Enterprises, as vice president of licensing and brand development.
In addition to the Waverly brand, NexCen owns the Bill Blass brand, which it said at the time of the Waverly announcement would expand into the home arena.
