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Sherwood Group completes acquisition of Charnos lingerie brand
27 Mar '06
2 min read
Intimate apparel company Sherwood Group has purchased the brand and assets of the Charnos business from the administrators of Nelson I.A. Limited. The acquisition was completed on 17th March 2006 for a cash consideration of £585,000.
Charnos is a strong and recognised lingerie brand with over 50 years of heritage and is distributed to over 500 customers in the UK. Nelson I.A. Limited acquired the Charnos brand in 2002 for a goodwill consideration of £1million from Charnos Plc. It was voted 'Best Sexy Lingerie' in the Figleaves.com awards 2005.
Sherwood Group is focused on becoming the leading provider of branded solutions in the intimate apparel sector. The acquisition of the Charnos business acts as a perfect complement to the existing portfolio of brands and provides access to a greater number of independent retailers where Charnos has a higher penetration than current Sherwood brands.
Charnos is positioned amongst the aspirational brands within the lingerie market and will broaden the reach of Sherwood brands. The brand fits well with Sherwood's other brands – Lepel, Ted Baker, Discover Mademoiselle, Miss Lepel and the newly launched Urban Nights.
The Charnos business will continue to have dedicated resource focused on design, marketing, sales and brand account administration, but economies of scale will be achieved by consolidating the existing, sourcing and merchandising teams with other brands in Sherwood, putting all logistics and distribution through the Sherwood facility together with centralising financial accounting.
Charnos is a strong and recognised lingerie brand with over 50 years of heritage and is distributed to over 500 customers in the UK. Nelson I.A. Limited acquired the Charnos brand in 2002 for a goodwill consideration of £1million from Charnos Plc. It was voted 'Best Sexy Lingerie' in the Figleaves.com awards 2005.
Sherwood Group is focused on becoming the leading provider of branded solutions in the intimate apparel sector. The acquisition of the Charnos business acts as a perfect complement to the existing portfolio of brands and provides access to a greater number of independent retailers where Charnos has a higher penetration than current Sherwood brands.
Charnos is positioned amongst the aspirational brands within the lingerie market and will broaden the reach of Sherwood brands. The brand fits well with Sherwood's other brands – Lepel, Ted Baker, Discover Mademoiselle, Miss Lepel and the newly launched Urban Nights.
The Charnos business will continue to have dedicated resource focused on design, marketing, sales and brand account administration, but economies of scale will be achieved by consolidating the existing, sourcing and merchandising teams with other brands in Sherwood, putting all logistics and distribution through the Sherwood facility together with centralising financial accounting.
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