Media firm Emap buys out WGSN, fashion & style news provider

14 Oct '05

3 min read

London based media company Emap plc announced that it has acquired Worth Global Style Network (WGSN), from Marc and Julian Worth and other private shareholders, for approximately £140 million on a debt-free, cash-free basis subject to normal closing balance sheet adjustments. The acquisition will be financed from Emap's existing bank facilities.

Fashion and style news & information provider WGSN.com is the leading international online source of fashion and apparel intelligence in the retail sector, delivering high value information on trends from the latest catwalks, major trade shows, street fashion and retail storefronts.

It is a global business with customers in 60 countries. Speed has become a fact of life for designers, manufacturers and retailers and WGSN informs these key decision makers on colours, shapes, textiles, materials and brands.

The WGSN client base encompasses the entire value chain of the $770 billion global fashion and apparel industry – retailers, fashion brands, manufacturers, textile producers, trading and import companies.

WGSN's revenue is subscription based and it has shown a 39% CAGR for the past 3 years. Annual renewal rates for the service have been in excess of 90% which provides a high degree of visibility on future revenues. This is a global information business with revenues coming primarily from Europe and the US with the balance from Asia Pacific, mostly Hong Kong. WGSN has international offices in New York, Hong Kong, Paris, Milan and Melbourne with the majority of its 172 staff headquartered in London.

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