Kellwood Co. (St. Louis), apparel manufacturer whose lines include the Kathie Lee collection for Wal-Mart plus the Koret, Sag Harbor and Cricket Lane lines, has agreed to acquire Kasper ASL (New York), a bankrupt women's clothing and accessories concern, in a deal valued at around $164 million.
Kasper's brands, other than its own, include the Anne Klein line. It has been under Chapter 11 bankruptcy protection since Feb. 5, 2003.
Kasper ceo John Idol, formerly ceo of Donna Karan International (New York) and head of licensing at Polo Ralph Lauren (New York), has said, “I'm not going to stay here.” He was quoted in The New York Times as saying, “I'll only say this: I'm looking at my alternatives.” Idol is one of the candidates being talked about as a possible ceo to rescue the struggling Tommy Hilfiger Corp. (Hong Kong). The current Hilfiger chief, Joel Horowitz, is expected to step down by March 2004.