Randa Accessories will present a competing bid for Perry Ellis

Feldenkreis and his son Oscar, the company's current chief executive, are two of Perry Ellis' biggest investors. Their agreement in place for Perry Ellis values ​​the company at approximately $ 437 million; Randa's offer will cost about $ 444 million.

Perry Ellis, a popular brand of the 1990s, has since lost some of its luster in the fashion community, particularly compared to other popular brands at the time. Other major brands of the 90s, such as Champion and Calvin Klein, made a strong comeback and positioned themselves as vintage in the streetwear community.

In addition to his homonymous men's clothing, Perry Ellis has a portfolio of brands including by Shelli Segal, Original Penguin and Cubavera

Based in New York, Randa is one of the largest companies in the world. men's accessories in the world. The company owns more than 50 brands that it owns or licenses, including Dockers, Nautica and Pierre Cardin. It also manufactures private label products for some of the largest department stores in the United States. Its products are sold in shops ranging from

Walmart

and Amazon to Nordstrom.

Randa has received committed funding from major banks and other financiers for his offer and plans to use money to fund the operation, according to the people.

If Randa managed to sue Perry Ellis, Perry Ellis would have to pay a $ 8.7 million break-up fee. This would be Randa's largest acquisition in its history of more than 100 years. In 2012, the company took Swank Inc. for approximately $ 58 million, according to S & P Global Market Intelligence.

If Perry Ellis' board of directors accepted the offer, it could pave the way for a rare battle in the retail sector. The last big controversial retail market also came into the space of men's clothing, when Jos. A. Bank and Men's Wearhouse tried to buy one from the other, resulting in their amalgamation of 2014.

Writes Dana Mattioli to [email protected]