News Flash

Lever Style acquires Liwaco's apparel business

29 Aug '20

1 min read

Pic: Lever Style Corporation

Lever Style Corporation, the Hong Kong-based company that makes products for rising e-commerce brands and platforms such as Bonobos and Stitch Fix, has acquired the apparel business of Liwaco Overseas Marketing Limited, including the technical outerwear maker's customer and supplier relationships, staff, and sales and production pipelines.

The acquisition is Lever Style's first foray into the technical apparel market. "With both fashion and technical apparel expertise, the company is well-placed to support its customers in the growing athleisure segment – at the intersection of sportswear and fashion," the company said in a statement.

The acquisition, Lever Style's second within a month, demonstrates rapid progress against the company's strategy outlined at the time of its November 2019 IPO to further expand its apparel category portfolio through M&A. The company also acquired Vista Apparels in July 2020.

"We will enhance Liwaco's operations for efficiency, speed and flexibility and integrate them into Lever Style," said Stanley Szeto, executive chairman of Lever Style. "The ability to offer our expanded customer base technical outwear in addition to our existing wide product range provides cross-selling opportunities as well as economies of scale."

Fibre2Fashion News Desk (RKS)