Hilco Consumer Capital, L.P., Gordon Brothers Brands, LLC and Bluestar Alliance Announce Court Approval to Purchase The Sharper Image Brand

    NEW YORK, May 29 /CNW/ - A joint venture led by Hilco Consumer Capital,
L.P. ("HCC"), Gordon Brothers Brands, LLC ("GBB"), and Bluestar Alliance
("Bluestar"), in partnership with Windsong Brands, LLC and Crystal Capital,
today announced court approval to purchase The Sharper Image brand and other
intellectual property.
    The joint venture partners have developed a global licensing strategy for
wholesale, direct-to-retail (DTR), e-commerce and catalog businesses which
will exploit The Sharper Image's heritage of quality, excitement, innovation
and fun.
    During its 32-year history, The Sharper Image has developed one of
America's most widely recognized and positively perceived consumer brands. The
joint venture recognizes The Sharper Image's blend of upscale specialty
positioning, iconic stature, outstanding consumer recognition and appeal
across a wide demographic.
    Jamie Salter, CEO of Hilco Consumer Capital commented "We are delighted
with this acquisition and we are proceeding immediately with our plans to
partner with world class licensees and retailers to introduce innovative high
quality products that will satisfy both the needs and enjoyment of The Sharper
Image customers. The Sharper Image brand will be extended internationally in
existing and new categories that consumers want and need. The QUALITY,
EXCITEMENT, INNOVATION and fun that The Sharper Image is renowned for will
soon be available worldwide."
    Stephen Miller of Gordon Brothers commented "This as a terrific
opportunity to transform a tier-one, iconic American brand into a global,
multi-channel platform of diverse and unique consumer products using leading
technologies and trend-setting innovations. This reflects the core
transformational competencies of the joint venture partners and we look
forward to working with existing and new licensees to grow the brand worldwide
and in multiple categories."
    Joseph Gabbay of Bluestar stated "Internationally, the integrity of the
brand is top in its field. The Sharper Image connotes quality and excitement
with products that are unique in both feature and function, and translate into
almost all categories."
    The joint venture will partner with a number of global institutions in
the ongoing development of The Sharper Image brand.

    Interested parties should contact:

    John Collins at HCC: jcollins@hilcocc.com or 416-682-5680

    Brad Snyder at GBB: bsnyder@gordonbrothers.com or 617-422-6216

    Joseph Gabbay at Bluestar: jgabbay@bluestarall.com or 212-290-1370

    Bill Sweedler at Windsong Brands: bsweedler@windsongbrands.com or

    About Hilco Consumer Capital:

    Hilco Consumer Capital (www.hilcocc.com) is a private equity firm that
makes strategic investments in consumer lifestyle brands through acquisitions
of North American manufacturers, wholesalers, intellectual property and
retailers. HCC investments range from $25 million to $250 million. Current
portfolio brands and companies include Caribbean Joe(R), Ellen Tracy,
Halston(R), Tommy Armour Golf(R), RAM Golf(R), and Bombay Brands, LLC. HCC is
a unit of The Hilco Organization, a Chicago-based, international provider of
diversified financial and operational services, including business asset
valuations, asset acquisition and disposition services, M&A services and
retail consulting.

    About Gordon Brothers Brands, LLC:

    Gordon Brothers Brands, LLC is a member of the Gordon Brothers Group
family of companies. GBB purchases, sells, and licenses brands and other
intellectual property. Founded in 1903, Gordon Brothers Group
(www.GordonBrothers.com) is a global advisory, restructuring and investment
firm specializing in retail and consumer products, industrial and real estate
sectors. Gordon Brothers Group maximizes value for both healthy and distressed
companies by purchasing or selling all categories of assets, appraising
assets, providing debt financing, making private equity investments, and
operating businesses for extended periods. Gordon Brothers Group conducts over
$40 billion in annual transactions and appraisals.

    About Bluestar Alliance:

    Bluestar Alliance was established in January 2007 by Joey Gabbay and
Ralph Gindi. The fund's purchase of Liz Lange was preceded by its acquisition
of better men's apparel firm Ron Chereskin Studio, Inc. in September 2007 and
quickly followed by that of junior brand Hot Kiss in February 2008. Gabbay is
also president of Wellington Capital Group, which purchased the Harvé Benard
ladies' brand in September 2006. Each of these apparel companies operates as a
wholly-owned subsidiary.

    About Windsong Brands LLC:

    Windsong Brands, LLC (www.windsongbrands.com) is a private equity firm
that focuses on investments in leading middle market consumer companies that
own strong recognizable brands. The team has a diverse background of consumer
expertise that assists and guides company management to unlock the true
potential of their brand. Windsong Brands makes majority and minority
investments in both public and private companies. Investments and portfolio
brand companies include Ellen Tracy, Caribbean Joe, Joe's Jeans, Field &
Stream, Como Sport, and Alerion Aviation.

For further information:

For further information: John Collins at HCC: jcollins@hilcocc.com or
(416) 682-5680; Brad Snyder at GBB: bsnyder@gordonbrothers.com or (617)
422-6216; Joseph Gabbay at Bluestar: jgabbay@bluestarall.com or (212)
290-1370; Bill Sweedler at Windsong Brands: bsweedler@windsongbrands.com or
(203) 319-3600

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