Home / Knowledge / News / Apparel/Garments / Private equity firm Evercore takes stake in Grupo Axo
Private equity firm Evercore takes stake in Grupo Axo
12
Jan '11
Grupo Axo, S.A.P.I de C.V. and Evercore Mexico Capital Partners II announced that they have signed and closed an agreement for the Fund to acquire a 20% interest in the Company.

With this transaction, Grupo Axo, the leading brand management company in the Mexican retail and fashion industries, gains a strategic partner with proven experience and a strong reputation in Mexico. Grupo Axo currently distributes, operates and promotes on an exclusive basis clothing and accessory lines for Benetton, Brooks Brothers, Brunello Cucinelli, Coach, Emporio Armani, Etro, Guess, Marc Jacobs, Rapsodia, Thomas Pink and Tommy Hilfiger in the Mexican market.

The Company will start operating the Payless ShoeSource and Sephora brands in Mexico in 2011. Grupo Axo sells its products through the retail and wholesale channels. The Company has reported net sales growth of 24.3% on a CAGR basis from 2007 through 2010, outpacing the industry's annual growth of 3.6% during the same period.

“The strategic and operating experience of our new shareholders will further support Grupo Axo's growth as we work towards attracting new brands and strengthening our competitive position,” stated Andrés Gómez, Co-Founder and Co-CEO of Grupo Axo. “We remain highly confident in our strategy. The capital the Fund is investing will propel our continued growth.”

Pedro Aspe and Alfredo Castellanos from Evercore Partners will join the Grupo Axo Board of Directors which will also include Andrés Gómez, Alberto Fasja, Henry Davis, Alberto Torrado and Juan Ignacio Casanueva.

“Our investment in Grupo Axo relies on solid fundamentals, in one of the most attractive sectors of the country's economy. The market knowledge and business expertise of Grupo Axo's executive management have allowed it to become an industry leader. It is a true honor to partner with such a successful business group,” declared Pedro Aspe, Co-Chairman of Evercore Partners.

Alberto Fasja, Grupo Axo's Co-Founder and Co-CEO commented on the transaction, “We were looking for an institutional partner to help strengthen our internal processes, a partner with a shared business vision, considerable knowledge and flexibility to support Grupo Axo's future growth. The Fund's investment and participation will enhance our corporate governance procedures as well as help us execute our business strategy that includes strong organic growth of our current portfolio and the addition of new brands in the medium term.”

Alfredo Castellanos, Managing Director of Evercore Mexico Capital Partners, stated, “We are thrilled to invest in Grupo Axo, a company we have known for several years. We are honored to join forces with such an extraordinary management team. We believe our capabilities complement Grupo Axo's unique vision and operational prowess and that, together, we will continue maximizing the company's value and leading competitive position in the Mexican retail and fashion industries.”

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

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

Yash P. Kotak
Bombay Hemp Company

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Wendell Rodricks
Wendell Rodricks

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

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