The Pas Group has acquired Australian swimwear brand Jets and will look to broaden international distribution and expand the brand's online presence, according to reports in the Australian media.
Pas bought Jets from designer Jessika Allen and her husband Adrian, who have owned the swimwear maker since 2001 and recently expanded the label into activewear. Sydney-based Jets has a 30-year heritage in the Australian swimwear market and has evolved into an iconic brand with a growing international presence. Jets sells its swimwear and activewear through local and international department stores, independent stores and online.
Under the deal, Ms Allen will remain as design director for at least 18 months before moving to a consulting role. General manager Rob Schonberger will also retain his position.
Pas CEO Eric Morris said Jets was expected to add to the group's earnings immediately and provide a platform for growth in the rapidly expanding activewear market.
“In Australia, there are opportunities to increase its retail footprint and expand its online presence,'” Morris said in a statement. “We will also look to broaden its international distribution.”
The Pas Group is one of Australia's leading apparel groups and owns labels such as Review, Marco Polo and Black Pepper. (SH)
Fibre2Fashion News Desk – India