Cutter & Buck (UPIC: CUTT0001) has ended its Canadian License Agreement with Caulfeild Apparel Group Limited after a 20-year business relationship. Seattle, Washington-based Cutter & Buck’s parent company, New Wave Group, will assume management of the brand as of July 1, 2013, with a base of sales operations in a new showroom office in Toronto.
“Caulfeild is our longest international partnership, and they have done a great job in establishing and growing Cutter & Buck in Canada over the years,” says Jens Peterson, CEO of Cutter & Buck. “In order to take our business in Canada to the next level, we feel we can do that best under our own management and to be able to benefit from the larger infrastructure investment put in place by our parent company.”
New Wave Group recently made significant investments into its Canadian operations, including the acquisition of Paris Glove in 2011. This provided an established base of entry in Canada for other New Wave products and the merging of Cutter & Buck into New Wave’s Canadian division was the next logical step towards further business growth.