Delia’s to be acquired by teen media company

July 31, 2003 |

Alloy will make a tender offer to purchase all of Delia’s outstanding shares, then will enter a second process under which all untendered shares will be converted to the right to receive 92.8 cents a share.

Alloy is a media/marketing services company as well as a direct marketer that sells through catalogs and Web sites. Its product categories include apparel, accessories, footwear, room furnishings and sports equipment. Alloy will merge its merchandising operation with Delia’s merchandising, which includes catalogs, the Internet and 64 Delia’s stores.

"We believe that the combination will create the premier teen multi-channel merchandise business, with a $300 million annual revenue base; a merged database of over 20 million names; a stable of recognized distribution brands; and strong growth platforms in direct marketing, retail stores and product licensing,” said Matthew Diamond, Alloy chairman and ceo.

Alloy has hired former J. Crew coo Walter Killough Jr. to head merchandising and plans to hire other senior executives with experience in the youth market.

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