Home / Knowledge / News / Apparel/Garments / Sportswear brand 2XU gets financial backing for expansion plans
Sportswear brand 2XU gets financial backing for expansion plans
16
Nov '11
Melbourne, Australia-based sportswear brand 2XU will get financial backing from Lazard, a corporate advisory firm, to fund its expansion drive.

The announcement came alongside the news that Lazard's private equity subdivision, Lazard Australia Private Equity, has finalized the quantum of first financial package of US$ 120 million for its Lazard Australia Corporate Opportunity Fund 2.

Queensland's largest superannuation fund, Sunsuper, would sponsor the fund to the tune of US$ 100 million, while the rest of the amount would be jointly financed by Lazard and the firm's management team.

Lazard aspires to build a corpus of US$ 400 million by calling upon other investors to procure a stake in the firm.

The sum so raised would be partially invested in 2XU, which utilizes latest fabrics and technology that help improve sports performance and recovery levels, and sells these products to leading athletes across 42 countries.

Over the past four years, sales of the firm established in Melbourne in 2005 have increased at a compounded rate of over 40 percent per annum.

2XU aspires to develop itself as a one billion USD firm by further expanding its reach to Europe, Asia and the US. As stated by 2XU's Founder and Executive Chairman Mr. Davenport, they produce best technical products at 2XU and all the products so produced have some traits that provides a real benefit to athletes.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search