Michelsons is ramping up its accessories supply business and developing an own brand portfolio, following a management buyout.
The neckwear supplier, which manufactures ties, scarves and cufflinks and has its own Michelsons brand, is launching men's bags, belts and other leather accessories for autumn 07, with retail prices from £15 to £120.
Chief executive John Milne said the business had the potential to expand into a full lifestyle accessories offer, after he led a management buyout of the company from US tie manufacturer Superba Corporation last month.
He said: "We will initially expand into other men's leather accessories with key stockists for autumn 07, followed by a larger distribution the following year. We are also developing some more own-brand accessories and looking for ways to restart our export business to the US and Far East. We have made a significant turnaround over the past six years."
Milne added that since the buyout the business had shifted the bulk of its manufacturing to China, away from Italy and the UK, and was increasing the focus on more premium product.
Commercial and sourcing director Steven Clarke and finance director Nick Dale were also part of the buyout deal at the beginning of the year.
Michelsons turnover is just under £9 million, with about 75% coming from the private label operation.