Oxford Industries, Inc. designs, sources, markets and distributes branded apparel products.
The trademarks of the company’s portfolio of lifestyle brands include Tommy Bahama, Lilly Pulitzer, Johnny Was, Southern Tide, TBBC, Duck Head, and Jack Rogers.
The company’s business strategy is to drive excellence across a portfolio of lifestyle brands that create sustained, profitable growth. The company considers lifestyle brands to be those brands that have a clearly defined and targeted point of v...
Oxford Industries, Inc. designs, sources, markets and distributes branded apparel products.
The trademarks of the company’s portfolio of lifestyle brands include Tommy Bahama, Lilly Pulitzer, Johnny Was, Southern Tide, TBBC, Duck Head, and Jack Rogers.
The company’s business strategy is to drive excellence across a portfolio of lifestyle brands that create sustained, profitable growth. The company considers lifestyle brands to be those brands that have a clearly defined and targeted point of view, inspired by an appealing lifestyle or attitude. The company’s ability to compete successfully in the apparel industry is dependent on its proficiency in foreseeing changes and trends in fashion and consumer preference, and presenting appealing products for consumers. The company’s design-led, commercially informed lifestyle brand operations strive to provide exciting, differentiated fashion products each season, as well as certain core products that consumers expect from it.
To further strengthen each lifestyle brand’s connections with consumers, the company directly communicates through digital and print media on a regular basis with its loyal consumers, including the approximately 2.7 million who have transacted with it in the last year.
During Fiscal 2024, 81% of the company’s consolidated net sales were through its direct-to-consumer channels of distribution, which consist of its brand-specific full-price retail stores, e-commerce websites, and outlets, as well as its Tommy Bahama food and beverage operations. The company’s direct-to-consumer operations provide it with the opportunity to interact directly with its customers, present to them a broad assortment of its current season products, and immerse them in the theme of the lifestyle brand.
The company’s full-price retail stores allow it the opportunity to carry a full line of current season merchandise, including apparel, accessories, and other products, all presented in an aspirational brand-specific atmosphere.
Additionally, the company’s Tommy Bahama brand operates food and beverage locations, including some full-service restaurants and some Marlin Bars, each located adjacent to a Tommy Bahama full-price retail store. These food and beverage locations provide the company with the opportunity to immerse customers in the ultimate Tommy Bahama experience, as well as attract new customers to the Tommy Bahama brand. Both Tommy Bahama and Johnny Was operate brand-specific outlet stores, which are typically utilized for end-of-season inventory clearance. The company’s wholesale operations consist of sales of products bearing the trademarks of its lifestyle brands to various specialty stores, better department stores, multi-branded e-commerce retailers, and other retailers.
Operating Segments
The company’s business is organized into its Tommy Bahama, Lilly Pulitzer, Johnny Was, and Emerging Brands reportable segments.
Tommy Bahama designs, sources, markets, and distributes men’s and women’s sportswear and related products. Tommy Bahama products can be found in its Tommy Bahama stores and on its Tommy Bahama e-commerce website, tommybahama.com, as well as at better department stores, independent specialty stores, and multi-branded e-commerce retailers. The company also operates Tommy Bahama food and beverage locations and licenses the Tommy Bahama name for various product categories. During Fiscal 2024, 95% of Tommy Bahama’s sales were in the United States, with the remaining sales in Australia and Canada.
Direct to Consumer Operations
A key component of the company’s Tommy Bahama strategy is to operate retail stores, e-commerce websites, and food and beverage concepts, which permit it to develop and build brand awareness by presenting its products in a setting specifically designed to showcase the aspirational lifestyle on which the products are based. The company’s Tommy Bahama direct-to-consumer channels, which consist of full-price retail stores, e-commerce, food and beverage, and outlet store operations, in the aggregate, represented 84% of Tommy Bahama’s net sales in Fiscal 2024.
The company’s Tommy Bahama websites, including the tommybahama.com website, allow consumers to buy Tommy Bahama products directly from it via the internet. These websites also enable the company to increase its database of consumer contacts, which allows it to communicate directly and frequently with consenting consumers.
The company’s direct-to-consumer strategy for the Tommy Bahama brand also includes locating and operating full-price retail stores in lifestyle shopping centers, resort destinations, brand-appropriate street locations, and upscale malls. Generally, the company seeks to locate its full-price retail stores in shopping areas and malls that have high-profile or upscale consumer brand adjacencies. As of February 1, 2025, the majority of its Tommy Bahama full-price retail stores were in street-front locations or lifestyle centers, with the remainder primarily in regional indoor malls, with a number of those regional indoor locations in resort travel destinations.
As of February 1, 2025, the company operated various Tommy Bahama food and beverage locations, including some restaurant locations and some Marlin Bar locations, each located adjacent to a Tommy Bahama full-price retail store location. These retail-food and beverage locations, which generated over 25% of Tommy Bahama’s net sales in Fiscal 2024, provide the company with the opportunity to immerse customers in the ultimate Tommy Bahama experience. The Marlin Bar concept, like the company’s traditional restaurant locations, is adjacent to one of its full-price retail store locations and serves food and beverages, but in a smaller space and with food options more focused on fast, yet upscale, casual dining, with small plate offerings rather than entrees.
Tommy Bahama utilizes the company’s outlet stores, which generated 8% of total Tommy Bahama sales in Fiscal 2024, and sales to off-price retailers to sell the remaining end-of-season or excess inventory. The company’s Tommy Bahama outlet stores are generally located in outlet shopping centers that include other upscale retailers and serve an important role in overall inventory management by often allowing it to sell discontinued and out-of-season products at better prices than are otherwise available from outside parties. To supplement the clearance items sold in Tommy Bahama outlets and offer a more comprehensive selection of products and sizes, the company merchandises its Tommy Bahama outlets with certain made-for products.
During Fiscal 2024, Florida, California, Hawaii, and Texas represented 34%, 16%, 12%, and 9%, respectively, of the company’s Tommy Bahama direct-to-consumer retail and retail-food and beverage location sales. Including e-commerce sales, during Fiscal 2024, Florida, California, Hawaii, and Texas represented 28%, 15%, 8%, and 8%, respectively, of total Tommy Bahama direct-to-consumer sales.
Wholesale Operations
To complement the company’s direct-to-consumer operations and have access to a larger group of consumers, the company maintains a wholesale business for Tommy Bahama. Tommy Bahama’s wholesale customers include better department stores, specialty stores, and multi-brand e-commerce retailers that generally follow a retail model approach with limited discounting. The company values its long-standing relationships with its wholesale customers and is committed to working with them to enhance the success of the Tommy Bahama brand within their stores.
With the company’s wide distribution, domestic sales growth in its men’s apparel wholesale business may be somewhat limited in the long term. Wholesale sales for Tommy Bahama accounted for 16% of Tommy Bahama’s net sales in Fiscal 2024. Approximately 10% of Tommy Bahama’s net sales reflect sales to major department stores, with the company’s remaining wholesale sales primarily to specialty stores and off-price retailers. During Fiscal 2024, 12% of Tommy Bahama’s net sales were to Tommy Bahama’s 10 largest wholesale customers, with its largest customer representing less than 5% of Tommy Bahama’s net sales.
Tommy Bahama Resort
In Fiscal 2022, Tommy Bahama entered into a licensing arrangement for the first Tommy Bahama resort. Pursuant to the licensing agreement, the Miramonte Resort & Spa in Indian Wells, California, was converted into the Tommy Bahama Miramonte Resort & Spa, with a successful relaunch in Fiscal 2023. Tommy Bahama earns royalty income calculated as a percentage of revenues associated with the resort. The property is managed and operated by a national commercial and hospitality real estate company with considerable experience in premier resort development and operations.
Lilly Pulitzer
Lilly Pulitzer designs, sources, markets, and distributes upscale collections of women’s and girls’ dresses, sportswear, and related products. The brand is somewhat unique among women’s brands in that it has demonstrated multi-generational appeal, including among young women in college or recently graduated from college, young mothers with their daughters, and women who are not tied to the academic calendar.
Lilly Pulitzer products can be found on the company’s Lilly Pulitzer website, lillypulitzer.com, in its owned Lilly Pulitzer stores, and in Lilly Pulitzer Signature Stores, as well as in independent specialty stores and better department stores. During Fiscal 2024, 40%, 32%, and 12% of Lilly Pulitzer’s net sales were for women’s dresses, sportswear, and Luxletic athleisure products, respectively, with the remaining sales consisting of Lilly Pulitzer accessories, including scarves, bags, jewelry, and belts, children’s apparel, swim, footwear, and licensed products.
Direct to Consumer Operations
The company’s Lilly Pulitzer website, lillypulitzer.com, allows consumers to buy Lilly Pulitzer products directly from it via the internet. The company also utilizes the Lilly Pulitzer website as an effective means of liquidating discontinued or out-of-season inventory in a brand-appropriate manner and at gross margins in excess of 40% via e-commerce flash clearance sales.
The company’s full-price retail store strategy for the Lilly Pulitzer brand includes operating full-price retail stores in higher-end lifestyle shopping centers and malls, resort destinations, and brand-appropriate street locations. As of February 1, 2025, over 40% of its Lilly Pulitzer full-price stores were located in outdoor regional lifestyle centers, and approximately 20% of its Lilly Pulitzer stores were located in indoor regional malls, with the remaining locations in resort or street locations. In certain seasonal locations, such as Nantucket, Massachusetts, and Watch Hill, Rhode Island, its stores are only open during the resort season.
Wholesale Operations
To complement the company’s direct-to-consumer operations and have access to a larger group of consumers, it maintains wholesale operations for Lilly Pulitzer. These wholesale operations, which represented 17% of Lilly Pulitzer’s net sales in Fiscal 2024, are primarily with Signature Stores, independent specialty stores, better department stores, and multi-branded e-commerce retailers that generally follow a retail model approach with limited discounting. During Fiscal 2024, approximately one-quarter of Lilly Pulitzer’s wholesale sales were to Lilly Pulitzer’s Signature Stores, approximately one-quarter of Lilly Pulitzer’s wholesale sales were to specialty stores, and less than one-fifth of Lilly Pulitzer’s wholesale sales, or less than 5% of Lilly Pulitzer’s net sales, were to department stores. The remaining wholesale sales were primarily to off-price retailers and national accounts, including online retailers. Lilly Pulitzer’s net sales to its 10 largest wholesale customers represented 10% of Lilly Pulitzer’s net sales in Fiscal 2024, with its largest customer representing less than 5% of Lilly Pulitzer’s net sales.
An important part of Lilly Pulitzer’s wholesale distribution is sales to Signature Stores. For these stores, the company enters into agreements whereby it grants the other party the right to independently operate one or more stores as a Lilly Pulitzer Signature Store, subject to certain conditions, including designating substantially all floor space specifically for Lilly Pulitzer products and adhering to certain trademark usage requirements. The company sells products to these Lilly Pulitzer Signature Stores on a wholesale basis.
Johnny Was
Johnny Was is a California lifestyle brand that designs, sources, markets, and distributes upscale collections of affordable luxury, artisan-inspired bohemian apparel, accessories, and home goods. The Johnny Was brand was founded in 1987 and continues to transcend fashion trends with its beautifully crafted, globally inspired products, and demonstrates a unique ability to combine and mix elevated fabrics, patterns, bespoke prints, and artisanal embroidery that distinguishes its product in the marketplace. Johnny Was products can be found on the Johnny Was website, johnnywas.com, and in its full-price retail stores, as well as select department stores and specialty stores. During Fiscal 2024, approximately 90% of the net sales of Johnny Was were for women’s apparel, with the remaining sales consisting of Johnny Was accessories, including home products, shoes, scarves, handbags, and jewelry.
Direct to Consumer Operations
The Johnny Was direct-to-consumer distribution channel consists of e-commerce, full-price retail, and outlet store operations. The company’s full-price retail store strategy for the Johnny Was brand includes operating full-price retail stores in higher-end lifestyle shopping centers and malls, resort destinations, and brand-appropriate street locations.
The company’s Johnny Was outlet stores are generally located in outlet shopping centers that include other upscale retailers and serve an important role in overall inventory management by often allowing it to sell discontinued and out-of-season products at better prices than are otherwise available from outside parties.
During Fiscal 2024, 27%, 13%, and 13% of the retail store sales of Johnny Was were in stores located in California, Texas, and Florida, respectively. During Fiscal 2023, including e-commerce sales, California, Texas, and Florida represented 22%, 13%, and 11%, respectively, of its total Johnny Was direct-to-consumer sales.
Wholesale Operations
To complement the company’s direct-to-consumer operations and have access to a larger group of consumers, it maintains wholesale operations for Johnny Was. These wholesale operations are primarily with better independent specialty and department stores, as well as multi-branded e-commerce retailers that generally follow a retail model approach with limited discounting. During Fiscal 2024, 19% of the net sales of Johnny Was were sales to wholesale customers, and approximately 40% and 20% of the wholesale sales of Johnny Was were to department stores and specialty stores, respectively. The remaining wholesale sales were primarily to off-price retailers and distributors in countries outside of the United States. Net sales to the 10 largest wholesale customers of Johnny Was represented 14% of the net sales of Johnny Was during Fiscal 2024, with its largest customer representing less than 5% of Johnny Was’ net sales.
Emerging Brands
Emerging Brands consists of the operations of the company’s smaller, earlier-stage Southern Tide, TBBC, Duck Head, and Jack Rogers brands. Investments in smaller lifestyle brands that are unconsolidated entities are also included within Emerging Brands. Each of the brands included in Emerging Brands designs, sources, markets, and distributes apparel and related products bearing its respective trademarks, and is supported by Oxford’s emerging brands team that provides certain support functions to the smaller brands, including marketing and advertising execution, analysis, and other functions. The shared resources provide for operating efficiencies and enhanced knowledge sharing across the brands.
The brands distribute their products on their brand-specific e-commerce websites, southerntide.com, thebeaufortbonnetcompany.com, duckhead.com, and jackrogersusa.com, as well as wholesale channels of distribution for each brand that may include independent specialty retailers, better department stores, and brand-specific Signature Stores. During Fiscal 2024, the majority of the net sales of all operating segments within Emerging Brands were direct-to-consumer sales.
Also, a key component of the company’s Southern Tide and TBBC growth strategy is to expand its direct-to-consumer retail store operations after both brands opened their first retail store locations in recent years.
Trademarks
The company owns trademarks, many of which are very important and valuable to its business, including Tommy Bahama, Lilly Pulitzer, Johnny Was, Southern Tide, The Beaufort Bonnet Company, Duck Head, and Jack Rogers.
Advertising And Marketing
The company’s advertising emphasizes the respective brand’s image and lifestyle, and attempts to engage individuals within the target consumer demographic, and guide them on a regular basis to its e-commerce websites, direct-to-consumer locations, or wholesale customers’ stores and websites in search of its products.
The company increasingly utilizes digital marketing, social media, and email, and continues to use traditional direct mail communications to interact with its consumers. It varies its engagement tactics to elevate the consumer experience as it attracts new consumers, drives conversion, builds loyalty, activates consumer advocacy, and addresses the transformation of consumer shopping behaviors. The company’s creative marketing teams design and produce imagery and content, social media strategies, and email and print campaigns designed to inspire the consumer and drive traffic to the brand. The company attempts to increase its brand awareness through a strategic emphasis on technology and the elevation of its digital presence, which encompasses e-commerce, mobile e-commerce, digital media, social media, and influencer marketing. In this environment where many people are digital-first consumers, the company continues to enhance its approach to digital marketing and invest in analytical capabilities to promote a more personalized experience across its distribution channels. At the same time, it continues to innovate to better meet consumer online shopping preferences (e.g., loyalty, ratings and reviews, and mobile phone applications) and build brand equity.
Marketing initiatives in the company’s direct-to-consumer operations may include special event promotions, including loyalty award cards, Flip Side, Friends & Family, and gift-with-purchase events, and a variety of public relations activities designed to create awareness of its brands and products, drive traffic to its websites and stores, convert new consumers, and increase demand and loyalty. The company’s various initiatives are effective in increasing online and in-store traffic, resulting in the proportion of its sales that occur during its promotional marketing initiatives, such as Tommy Bahama’s Friends & Family events, increasing in recent years, which puts some downward pressure on the company’s direct-to-consumer gross margins.
The company’s marketing may also include sponsorships, collaborations, and co-branding initiatives, which may be for a particular cause or non-profit organization that is expected to resonate with target consumers. For certain of its wholesale customers, the company may also provide point-of-sale materials and signage to enhance the presentation of its products at their retail locations, and/or participate in cooperative advertising programs.
Distribution Centers
The company operates a number of distribution centers. The company’s Auburn, Washington, and King of Prussia, Pennsylvania distribution centers serve its Tommy Bahama and Lilly Pulitzer operating segments, respectively. During Fiscal 2024, the company moved the distribution center operations of Johnny Was to its Lyons, Georgia distribution center from two distribution centers in Los Angeles, California. The company’s Lyons, Georgia distribution center provides primary distribution services for Johnny Was and its smaller Southern Tide, TBBC, and Duck Head businesses, as well as certain distribution services for its Lilly Pulitzer and Tommy Bahama businesses.
In Fiscal 2023, the company began a multi-year Southeastern United States distribution center enhancement project in Lyons, Georgia, to build a new facility to ensure best-in-class direct-to-consumer throughput capabilities for its brands. The new facility will provide direct-to-consumer support for all of its brands, including the East Coast operations of Tommy Bahama, and is expected to open in the Fourth Quarter of Fiscal 2025.
Activities at the distribution centers include receiving finished goods from suppliers, inspecting the products, and shipping the products to its retail store, e-commerce, and wholesale customers, as applicable. The company seeks to maintain sufficient levels of inventory at the distribution centers to support its direct-to-consumer operations, as well as pre-booked, at-once, and some in-stock replenishment orders for its wholesale customers. The company uses a local third-party distribution center for its Tommy Bahama Australia operations.
Seasonal Aspects of Business
Each of the company’s operating segments is impacted by seasonality, as the demand for specific products or styles, as well as by distribution channel. As a result, the company’s quarterly operating results and working capital requirements fluctuate significantly from quarter to quarter. Typically, the demand for products for its larger brands is higher in the spring, summer, and holiday seasons, and lower in the fall season (the third quarter of the company’s fiscal year). Thus, the company’s third quarter historically has had the lowest net sales and net earnings compared to other quarters (year ended February 1, 2025).
History
Oxford Industries, Inc., a Georgia corporation, was founded in 1942. The company was incorporated in 1960.
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