ECONOMYNEXT – Sri Lanka’s Hela Apparel Holdings Plc said it had acquired a Focus Brands, UK based brand licensing house, which is involved in design, sourcing, distribution and promotion of sports fashion and lifestyle apparel brands.
Hela has acquired a 100 percent of Focus Brands from JD Sports Fashion Plc, a statement said. The firm paid 8 million sterling pounds, a stock exchange filing said.
“Focus Brands will form the basis for the organisation’s new brand licensing division, which will initially operate independently of the existing apparel manufacturing business,” Hela Apparels said.
“The transaction also marks the first time a Sri Lankan apparel manufacturer has acquired a brand management company in one of its key markets…”
Hela said the acquisition will bring significantly closer to its end customer and expanding its range of services to brand marketing and distribution,
“We see immense potential to build significant synergies with our existing manufacturing business, supported by the addition of a Focus Brands well-experienced team of over 200 who have a proven track record of successfully growing major apparel brands,” A. R. Rasiah, Chairman of Hela Apparel Holdings said.
“We intend to leverage their renowned design, product development, marketing, and distribution capabilities to further elevate Hela’s offering to its existing customers across the industry.”
Hela will have access to Focus Brands’ six product showrooms located in London, Manchester, Berlin, Munich, Düsseldorf, and Amsterdam, and a sourcing office in China as well as a network of warehousing facilities in the UK and Europe. (Colombo/Jan29/2023)