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Finish Line Goes Hip-Hop

INDIANAPOLIS-Athletic shoe retailer Finish Line has acquired Man Alive, a specialist in hip-hop fashion retailing, for $12 million.

By Dees Stribling | Updated on January 07, 2005

INDIANAPOLIS-In the wake of a fiscal third quarter that saw comp-store sales increase 8%, the Finish Line Inc., a chain of athletic shoe and accessory stores, has agreed to acquire all of the outstanding capital stock of the Hang Up Shoppes Inc., which does business under the trade name Man Alive, a mall-based men’s and women’s hip-hop fashion retailer. The sales price is $12 million in cash plus a potential earnout of up to a maximum of $6 million in cash.

“Man Alive has a proven store model, and it should be a fit with our organization from a strategic, cultural and operational viewpoint,” says Alan H. Cohen, Finish Line’s chairman and CEO, adding that the Man Alive chain represents a “highly compelling opportunity for store expansion.”

According to the Hang Up Shoppes, Man Alive will achieve sales of about $30 million for its fiscal year ending Jan. 29, 2005. The Finish Line believes that if the transaction is consummated, probably later this month, it will boost earnings per share slightly for Finish Line’s fiscal year ending Feb. 25, 2006.

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