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Japan's Wacoal buys UK lingerie firm Eveden
02
Apr '12
Japan's leading lingerie firm Wacoal Holdings Corp., has announced acquisition of Eveden, the UK-based specialist in designing and manufacturing high quality, fashion conscious lingerie and swimwear for D+ sizes, for a sum of around £150 million.

Wacoal said it will utilize its cash reserves and secure bank loans to purchase all shares of the Kettering, Northamptonshire-based company.

LDC, the leading UK regional mid-market private equity house and part of the Lloyds Banking Group, bought a minority stake in Eveden in 2006. Since then, Eveden has consistently outperformed and has consolidated its UK market position, and has also expanded to other countries.

Founded in 1920, Eveden currently manufactures about 5,000 innerwear items a year, which it sells across 50 countries.

The company owns brands like Fantasie, Freya and Goddess that currently dominate the larger-sized lingerie market. It has also acquired French lingerie brand Huit and increased its employee base to 660.

In 2010-11, Eveden's sales grew by 18 percent year-on-year to £81.9 million, while its profits surged by 47 percent year-on-year to £8.4 million.

Fibre2fashion News Desk - India

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