Lilly Pulitzer Sold for $60 Million

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Photo: lillypulitzer.com

The label with a store on Madison containing what the Times called "absolutely terrifying sport jackets for men" is worth a pretty penny, absolutely terrifyingly enough. Oxford Industries laid down $60 million for Sugartown Worldwide, Inc., which owns Lilly Pulitzer. Pulitzer president Jim Bradbeer, who will stay with the company, says they "had been approached by interested parties many times." Right — the next thing we know, Taylor Swift will give up sequins. [WWD]

Related: Cintra Wilson Terrified by the Jackets at Lilly Pulitzer