Home / Knowledge / News / Apparel/Garments / Bosideng International acquires Greenwoods Menswear
Bosideng International acquires Greenwoods Menswear
14
Oct '13
Bosideng International Holdings Limited is pleased to announce that it acquired 96% of the issued share capital of Greenwoods Menswear Limited (“Greenwoods”) through the purchase of the entire issued share capital of Pacific Trend Investment limited (“PTI”). The only asset of PTI is its investment holdings in Greenwoods.

Greenwoods are a celebrated menswear operator with a long history in the United Kingdom. It is mainly engaged in the direct sales of menswear under the brands of “Greenwoods” and“1860” in the UK. Currently, Greenwoods operates 88 stores in Britain, covering the main cities including Liverpool, Newcastle, York and Leicester City.

For the years ended 31 December 2012 and 2013, Greenwoods recorded a revenue of GBP23 million and GBP24.4 million respectively with net loss amounting to GBP0.78 million and GBP2.8 million respectively. As at 31 March 2013, the net shareholder deficit of Greenwoods was approximately GBP0.2 million.

The total consideration for the acquisition is RMB40 million in cash and shall be funded entirely with the internal resources of the Group. In addition, the Group has already directly advanced a loan of GBP8 million (approximately RMB78 million) to PTI to satisfy the working capital need of Greenwoods.

The management of Bosideng believes that the acquisition will, on one hand, improve the Group’s market share and business scale in menswear industry in the UK, and help it absorbs talents with rich experience in the industry.

On the other hand, the acquisition will enable the Group to quickly open a stable, reliable and low-cost retail channel for its down apparel brands which have positioning and target customer base similar to those of Greenwoods, further expanding the Group’s export business in down apparel. In terms of cost, Bosideng’s London flagship store will share some operating costs with Greenwoods, thus enhancing each other’s operating efficiency.

Bosideng International

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

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

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
January 2017

January 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