Platt joins NexCen to steer Waverly and home division

By Staff -- Home Textiles Today, 5/15/2007 7:38:00 AM

Rick Platt

New York – Richard (Rick) Platt has joined NexCen Brands to become president of the company’s newly acquired Waverly brand and NexCen’s home division.

Platt was most recently managing director of Official Pillowtex, where since 2004 he was responsible for brand direction and merchandising strategy for brands including Cannon, Fieldcrest, Royal Velvet, Charisma, Bugle Boy, and Delia’s. He joined Official Pillowtex from Sure Fit, where he was senior vp of retail sales.

Earlier Platt was senior director of retail sales and marketing for National Football League Properties, the NFL’s $3 billion consumer products division. Platt also has a retail background, having worked at Ames Department Stores.

NexCen completed the acquisition of the Waverly brand last week. When the acquisition was announced, NexCen said it would pay $36.75 million in cash to F. Schumacher & Co., Waverly’s parent, and issue 50,000 warrants priced at closing to acquire the Waverly brand and cancel an existing right of first refusal. At that time, the company said it expected the Waverly brand to generate approximately $9 million in royalty revenues and approximately $.07 per share of earnings per share in the first 12 months following the acquisition.

Earlier this month, NexCen announced that Marvin Traub has joined its board of directors. Traub, long time chairman and ceo of Bloomingdale’s New York, heads his namesake consulting firm, Marvin Traub Associates.

“NexCen brands is committed to increasing brand presence and profitability for each of our consumer products brands through our marketing operations, merchandising and licensing expertise,” said Robert D’Loren, president and ceo. “Platt exemplifies the superior leadership we commit to our family of brands. We are confident that he will successfully manage the team of home products designers and licensing professionals at Waverly to grow and elevate the company’s leadership position in the home furnishings industry.”

In addition to the Waverly brand, NexCen owns the Bill Blass brand which, the company said at the time of the Waverly announcement, it will expand across the home arena.