Sears, Roebuck and Co. (Hoffman Estates, Ill.) has acquired all rights to the Structure brand from Limited Brands Inc. (Columbus, Ohio). Though specific terms were not disclosed, it was believed to be for a financial consideration of less than $10 million.
Sears anticipates Structure merchandise to be in Sears stores by year-end 2004.
Sears expressed the belief that Structure fits well with its other national and private apparel brands, including Lands' End, which was successfully rolled out to all Sears full-line stores nationwide this fall; Apostrophe, the company's lifestyle collection with a feminine, fashionable career emphasis; Covington, Sears' updated casual brand created for the family; and CRB, the company's private brand of trend- right denim for juniors and young men.
Sears recently announced the launch of a new women's apparel line by Lucy Pereda, a Latina fashion designer and lifestyle expert.
Last week, Sears hired former Calvin Klein design executive Carrie Shigetomi to the post of vp, brand development.
“We are clearly focused on strengthening and broadening our apparel offering to new and existing customers,” said Mindy Meads, Sears executive vp, apparel. “That focus means continually adding new brands and merchandise that are in fashion and relevant. Acquiring the rights to Structure, which carries strong loyalty among its followers, is a great opportunity for Sears as it complements our existing private brand portfolio.”