Penny loafer brand sold

[:en]PVH Corporation sold its G.H. Bass & Co. division to G-III Apparel Group, Ltd.

The purchase price was US$50 million.

G.H. Bass & Co. was founded in 1876 and is best known for its penny loafers. PVH Corp. bought the footwear brand in 1987 from Unilever plc for $79 million.[:]