Home / Knowledge / News / Apparel/Garments / Sycamore buys 51% stake in Mast Global Fashions
Sycamore buys 51% stake in Mast Global Fashions
04
Nov '11
Sycamore Partners (Sycamore), a private equity firm based in New York, and Limited Brands, Inc. announced that Sycamore has acquired a controlling 51% interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands.

Limited Brands will retain a 49% stake in this standalone apparel production and sourcing company. Terms of the transaction were not disclosed. Limited Brands will retain 100 percent ownership of its separate sourcing operation for their intimate apparel and personal care/beauty businesses.

“Sycamore shares our values and our approach to business, and we know that they are the right partner to work with us to provide the resources necessary to expand this third-party apparel sourcing business,” said Leslie H. Wexner, chairman and chief executive officer of Limited Brands.

“That expansion will benefit all of the new company's customers, including Limited Brands. The change also enables our Limited Brands team to continue our focus on our strategic priorities – growing our intimate apparel, beauty and personal care retail brands.”

“We are honored that Limited Brands has chosen Sycamore Partners to join them in leading the development of Mast Global Fashions as a premier third-party apparel supply chain management company and one of the three largest apparel sourcing companies in the world,” said Stefan Kaluzny, a managing director at Sycamore. “We expect to draw upon the company's proven experience in sourcing and significant global reach to solidify and grow its leadership position in the apparel industry.”

James Schwartz, who has been with Mast for more than 28 years, will lead the new company as its president and chief executive officer.

“This is exactly the kind of business that Sycamore is looking to invest in – experienced leadership, a proven track record of success, and strong growth potential,” adds Peter Morrow, also a managing director at Sycamore.

“Jim Schwartz and the very talented team at Mast Global Fashions have been valued business partners to some of the leading apparel retailers for more than 40 years, and we look forward to continuing to build on that history of success.”

Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. Formed in 2011, the founders of Sycamore have a long history of partnering with management teams to improve the operating profitability and strategic value of their businesses. They work with companies they believe have significant growth potential, particularly when given the capital and outside expertise they need to succeed

Limited Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 2,628 specialty stores in the United States and its brands are sold in more than 800 company-operated and franchised additional locations world-wide.

Limited Brands


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Urs Stalder
Sanitized AG

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search