Jan '11
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
Textiles | On 21st Apr 2018
ITC, ICS tie up to help Moroccan textile value chain
The International Trade Centre (ITC) has partnered with ICS, which...
Apparel/Garments | On 21st Apr 2018
Bangladesh garment manufacturers call for fair pricing
Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...
Textiles | On 21st Apr 2018
Pak ministry proposes extension to PM package for 2018-19
Pakistani textile ministry has reportedly proposed extending the...
Interviews View All
Nishank Patel
Shri Dinesh Mills Limited
Broad range of fabrics will sell well this financial year
Nitin Soni
Dolphin Jingwei Machines
Taxation policies need to be made simpler
Shawn Honeycutt
Bolger & O'Hearn
‘The Indian market is interesting and rather persistent in seeking new...
New Delhi-based Jogindra Industries Private Limited provides an assortment ...
Sushila International, a well established textile organisation established ...
Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....
Silke Brand-Kirsch
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Paolo Ocleppo
Sandvik Hyperion
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Ashok Desai
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
Aditi Somani
Aditi Somani
Aditi Somani specialises in luxury fusion wear with international cuts and ...
Sanjukta Dutta
Sanjukta's Studio
<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...
Amiben Shroff
Shrujan
From its modest beginning in the late 1960s, Shrujan has grown into a...
Leave your Comments
Recommended
Want to know what happened in the textile world this week? Watch now!
news category
Related Categories:
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 103
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 103
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 103
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?
YesTotal Votes: 103
E-News Insight
Latest News Update in Your Mail Box.
