Oxford Industries, Inc. · NYSE:OXM
Oxford Industries — Merger or Acquisition (September 2022)
15 slides from Oxford Industries's merger presentation, Sep 19, 2022
Slide 1: Oxford Acquires Johnny Was
Acquires JOHNNY WAS California September 19, 2022 a
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This infographic was prepared as of September 19, 2022, and any subsequent distribution, dissemination or reproduction of this infographic or any of its content is not an affirmation or restatement of any forward - looking statements contained herein. Forward - Looking Statemen
Slide 3: Oxford Overview
OXFORD OVERVIEW ACQUISTION OVERVIEW ACQUISITION IMPACT
Slide 4: Our Strategy, Purpose and Objective
To maximize long - term shareholder value OUR STRATEGY To own a portfolio of lifestyle brands that create sustained, profitable growth OUR PURPOSE To evoke happiness OUR OBJECTIVE Andrew – can we reach out to lilly team to get this image; will get one without the AOR update
Slide 5: Oxford Overview
▪ Oxford is a portfolio company of happy, upbeat, high - margin lifestyle brands ▪ Founded in 1942 and headquartered in Atlanta, GA, Oxford leverages its 80 - year heritage and extended tenure in the apparel business ▪ Seeks continued opportunities for both profitable organic and inorganic growth fo
Slide 6: Our Track Record of Success
A Private Label Manufacturer and Licensor of Brands OUR TRACK RECORD OF SUCCESS A Leading Lifestyle Brand Owner Portfolio Composition (acquired 2003) (acquired 2010) Oxford Womenswear (divested 2006) Oxford Slacks (divested 2010) (acquired 2016) (acquired 2016) (acquired 2017) Portfolio Composition
Slide 7: Acquisition Overview
OXFORD OVERVIEW ACQUISTION OVERVIEW ACQUISITION IMPACT
Slide 8: Johnny Was delivers on Oxford's strategic acquisition criteria
Johnny Was delivers on Oxford’s strategic acquisition criteria and further enhances our portfolio STRATEGIC RATIONALE • Clearly defined positioning driving emotional connections and capturing a loyal customer • Capability to command premium pricing • Profitable business model • Strong, longstanding
Slide 9: The Johnny Was Brand
Since 1987, Johnny Was: ▪ Inspires free - spirited optimism through beauty, authenticity, comfort and artistic expression ▪ Delivers globally - inspired, timeless pieces of the highest quality for all styles, celebrating and encouraging individual expression ▪ Demonstrates a unique ability to combin
Slide 10: Johnny Was Business Profile
JOHNNY WAS BUSINESS PROFILE (1) $290+ DTC Average Order Value 75% DTC Revenue Mix Wholesale 25% Retail 34% eCommerce 41% 240K+ Unique DTC Customers (3) Gross Margin ~ 7 0% Attractive, Well - Balanced Distribution Mix Strong Direct to Consumer Dynamics (1) Metrics provided as of the trailing twelve -
Slide 11: Johnny Was Business Profile
JOHNNY WAS BUSINESS PROFILE Complementary, brand enhancing wholesale partners >1,000 Specialty Boutiques Strong Retail Door Economics ▪ 61 doors across 24 states – in both small and large markets ▪ Average store size of 1,600 sq. ft. ▪ >$700 sales per sq. ft. ▪ ~$0.4 million of build - out costs per
Slide 12: Complementary to Oxford Portfolio
Complementary Market Positioning Attractive Customer Demographics (1) Further Diversifies Portfolio 2022P Revenue (2) COMPLEMENTARY TO OXFORD PORTFOLIO $125 $290 + 1 2 Johnny Was DTC Average Order Value > 2.3x Oxford’s existing premium portfolio driven by its well - defined customer base and higher
Slide 13: Opportunities for Growth
OPPORTUNITIES FOR GROWTH Lift level of brand awareness through strategic investments and continue to take share in $11B affordable luxury segment (1) To drive sustained, profitable growth Grow new customer counts through continued physical door expansion, digital investments, and potential internati
Slide 14: Acquisition Impact
OXFORD OVERVIEW ACQUISTION OVERVIEW ACQUISITION IMPACT
Slide 15: Transaction Summary
TRANSACTION SUMMARY Enterprise Value $270 million Management Retention Oxford will retain the strong, experienced Johnny Was leadership team Closing Date September 19, 2022 Financing Financed primarily through cash on hand, with remaining ~$100M covered by drawing down Oxford’s revolving credit faci
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