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

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Paolo Ocleppo
Sandvik Hyperion

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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