Home / Knowledge / News / Apparel/Garments / Bendon signs deal to purchase lingerie brands from Gazal
Bendon signs deal to purchase lingerie brands from Gazal
11
Oct '11
International lingerie company Bendon has today unveiled plans to purchase three flagship lingerie brands from ASX listed apparel company Gazal.

Bendon has signed a deal to purchase the brands: Lovable, Davenport and Kissed by Lovable.

This latest move by Bendon follows the recent announcement of the merger with independent lingerie company Pleasure State.

The acquisition will increase Bendon's intimate apparel brand portfolio from eight to 11.

Bendon's CEO Justin Davis-Rice says Bendon has seized the opportunity to expand its portfolio of intimate apparel brands and remains acquisitive.

“Bendon is in the best position to take advantage of consolidation opportunities in the swimwear and intimate apparel market.”

Mr Davis-Rice says despite the continuing international economic downturn, the last few years have been a busy time of growth and planned expansion for Bendon.

“The decision to bring the additional brands into our portfolio reflects the strength and confidence we have in Bendon's current growth plans,” says Mr Davis Rice.

Gazal's CEO Michael Gazal says Lovable, Kissed by Lovable and Davenport are great brands and Gazal is pleased that they will have a new home in a specialist intimate apparel business such as Bendon. In addition to these three brands, the sale to Bendon also includes the Crystelle and Fineform trademarks.

The sale of these brands along with Gazal's other recent divestments will result in fewer businesses and a simpler structure going forward. This will allow management to focus their efforts on driving further growth from its core continuing operations.

The transaction value of assets sold to Bendon, which include all intellectual property, goodwill, selected fixed assets and selected inventory were slightly below Gazal's carrying values for those assets and the sale is not expected to have a material effect on Gazal Corporation's FY2012 earnings.

“I would like to thank all Gazal employees that have contributed to each of the brands being sold to Bendon and I wish everyone the very best of luck for the future,” says Mr Gazal.

“We are looking forward to welcoming the new members of our team from Gazal, it will be business as usual for us,” says Mr Davis-Rice.

Bendon expects to takes ownership of the Gazal brands from 14th October 2011.

Based in Sydney and listed on the Australian Securities Exchange, Gazal is a leading apparel supplier and retailer of intimate apparel, business attire, workwear and schoolwear sold under licensed and company owned brand names such as Calvin Klein, Van Heusen, Bisley, Nancy Ganz, Bracks and Midford.

Bendon is one of the world's leading intimate apparel companies. Founded in 1947, Bendon's international reputation and success is based on innovation, design expertise, superior infrastructure, leading-edge marketing and business leadership.

Bendon Limited


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search