The Special Situations I fund from Apollo Global Management and sportswear retailer Nike have inked a partnership to set up a company offering an efficient apparel supply chain in the Americas.
The new supply chain company has acquired two businesses, New Holland, an apparel manufacturer and ArtFX, an embellishment, warehousing and logistics operator.
In addition, this new company expects to acquire additional textile and apparel suppliers in the Americas in order to broaden and diversify its capabilities and product offerings.
“This will create a more vertically-integrated apparel ecosystem, from materials suppliers and apparel manufacturers, to final embellishment, warehousing and logistics,” Apollo Global said.
“This innovative strategic partnership will increase regional manufacturing capabilities, enable quicker delivery of more customised product to consumers, and drive investment in sustainability,” it added.
“We are excited to be working with Apollo to rethink a new supply chain model to revolutionise apparel manufacturing in the Americas,” said Nike chief operating officer, Eric Sprunk. (AR)
Fibre2Fashion News Desk – India