US apparel company Oxford Industries has started a process to sell its British men’s label Ben Sherman and expects to complete the sale during fiscal 2015. No further details about the timing, terms or structure of the transaction have been clarified yet.

In a corporate statement, the Atlanta-based company however said that there was "no assurance that a transaction will take place, and the company's Board of Directors may consider other alternatives for the Ben Sherman business that it believes are in the best interest of shareholders."

Mark Maidment, CEO of Ben Sherman, said: “Ben Sherman saw great progress in 2014, reinforcing a unique brand proposition in the menswear market and is on a positive trajectory. Ben Sherman's strong heritage and positive brand resurgence has laid a good foundation for moving forward with a sale process. The Ben Sherman team are focused on running the business well, continuing in our work to build this great brand, and ensuring a smooth transition of ownership.
In fiscal 2014, Ben Sherman generated $77.5 million in sales and a loss from operations of $10.8 million. These are improvements over 2013, where sales were $67.2 million and loss $13.1 million.
Ben Sherman (established 1963) has been owned by Oxford Industries for ca. 10 years. Next to Ben Sherman,
Oxford Industries' brand portfolio encompasses the lifestyle brands Tommy Bahama and Lilly Pulitzer as well as Oxford Golf and Billy London. The company also holds licenses to produce and sell certain product categories under the Kenneth Cole, Geoffrey Beene, and Dockers labels.