================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------
SCHEDULE 13G
----------
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)
CYGNE DESIGNS, INC.
-------------------
(Name of Issuer)
COMMON STOCK $.01 PAR VALUE PER SHARE
---------------------------------------
(Title of Class of Securities)
232556100
--------------
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Exchange Act") or otherwise subject to the liabilities of that section of
the Exchange Act but shall be subject to all other provisions of the Exchange
Act (however, see the Notes).
================================================================================
Page 1 of 5 Pages
<PAGE>
CUSIP No. 232556100 13G PAGE 2 OF 6 PAGES
--------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Irving Benson
- -----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- -----------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- -----------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES 940,061 shares
------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
66,339 shares
EACH ------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 940,061 shares
------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
66,339 shares
- -----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,006,400 shares
- -----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES / /
CERTAIN SHARES*
- -----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
- -----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 5 Pages
<PAGE>
Item 1(a) Name of Issuer:
Cygne Designs, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
1372 Broadway
New York, New York 10018
Item 2(a) Name of Person Filing:
See Item 1 of the cover page attached hereto
Item 2(b) Address of Principal Business Office, or
if none, Residence:
c/o Cygne Designs, Inc.
1372 Broadway
New York, New York 10018
Item 2(c) Citizenship:
See Item 4 of the cover page attached hereto
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01
Item 2(e) CUSIP Number:
232556100
Item 3 Not Applicable
Item 4 Ownership:
(a) Amount beneficially owned:
See Item 9 of the cover page attached hereto which includes (i)
885,061 shares owned directly by Mr. Benson; (ii) 66,339 shares
owned by Mr. Benson's spouse of which Mr. Benson disclaims
beneficial ownership; and (iii) 55,000 shares issuable upon the
exercise of options which are presently exercisable. Amount does
not include an aggregate of 123,839 shares owned by Mr. and Mrs.
Benson's children.
Page 3 of 5 Pages
<PAGE>
(b) Percent of Class:
See Item 11 of the cover page attached hereto.
(c) (i) See item 5 of the cover page, which includes (i) 885,061
shares owned directly by Mr. Benson and (ii) 55,000 shares
issuable upon the exercise of options which are presently
exercisable.
(ii) See item 6 of the cover page, which consists of 66,339
shares owned by Mr. Benson's spouse, as to which Mr. Benson
disclaims beneficial ownership.
(iii) See item 7 of the cover page, which includes (i) 885,061
shares owned directly by Mr. Benson and (ii) 55,000 shares
issuable upon the exercise of options which are presently
exercisable.
(iv) See item 8 of the cover page, which consists of 66,339
shares owned by Mr. Benson's spouse, as to which Mr. Benson
disclaims beneficial ownership.
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf
of Another Person:
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Item 10 Certification:
Not applicable.
Page 4 of 5 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 11, 1997
IRVING BENSON
/s/ IRVING BENSON
---------------------------------
Page 5 of 5 Pages
