Mad Engine, a full-service apparel company, has completed take over of Mighty Fine. This was the fourth acquisition for the company last year, proving growth and expansion are possible in a challenging retail climate. The company acquired Xtreme Worldwide (Canadian affiliate) in February, Lifted Research Group in March and NEFF Headwear in May that year.
Danish Gajiani, CEO of Mad Engine, explains "This acquisition comes at a critical time as the retail landscape is constantly changing, and customers are expecting impeccable design and execution capabilities from their suppliers. Joining forces with Mighty Fine also allows Mad Engine to contend in the juniors’ apparel space– an incredibly quick-turn and competitive arena." It is with Mighty Fine's design expertise that Mad Engine is now one of the most well-rounded and innovative players in this market.
Although Mighty Fine will continue to operate as a separate division, it will work to completely integrate into Mad Engine's robust back-end infrastructure before the end of this year.
Patty Timsawat (co-founder of Mighty Fine) will join the Mad Engine team to focus on business development while Guy Brand and Stacy Brand (co-founders of Mighty Fine) will branch off independently to pursue other opportunities.
"Mighty Fine has been following the amazing success that Mad Engine and their leadership team have built over the past few years, including the recent acquisitions of Neff and LRG. We are thrilled and honoured to have Mighty Fine be a part of the Mad Engine vision to align and grow upon the 20-year foundation that Mighty Fine has established with our creative DNA, solid relationships, and following in the market," says Guy Brand. (SV)
Fibre2Fashion News Desk – India