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Australia's Alceon gets majority stake in Ginger & Smart

Jun '19
Pic: Ginger & Smart
Pic: Ginger & Smart
Australian investment firm Alceon Group recently initiated a partnership with ethical fashion brand Ginger & Smart, adding another brand to its growing portfolio of retail investments. The group has taken a majority stake in the new entity, ARG (Alceon Retail Group) Ginger & Smart, to grow the brand’s local retail and digital presence and expand it globally.

The move is a strategic one to diversify the company’s portfolio and invest in highly desirable retail brands, said Richard Facioni, executive director of Alceon in a statement.

Sisters and Ginger & Smart co-founders Alexandra and Genevieve Smart will remain as managing director and creative director of the brand, while Alceon will contribute its expertise in retail, logistics, production and e-commerce, according to Australian media reports.

Alceon’s portfolio of apparel brands now includes Noni B, Specialty Fashion Group’s Katies, Millers, Autograph, Crossroads and Rivers brands, EziBuy and SurfStitch.

Ginger & Smart differs from Alceon’s existing apparel investments. The brand is committed to sourcing and choosing fabrics that are recyclabe and biodegradable, where possible. It now has three standalone stores in Australia and is sold through David Jones, The Iconic and a number of retail boutiques around Australia. (DS)

Fibre2Fashion News Desk – India

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