Mexx owner RNF Group acquired by HVEG Fashion Group
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Business
Two Dutch fashion groups are joining forces: RNF Group is being acquired by HVEG Fashion Group, the parties announced in a press release. The acquisition still has to be approved by the Dutch Authority for Consumers and Markets.
RNF Group owns, among others, Mexx, Fred de la Bretoniere and Shabbies. It also has licenses for the development and production of brands such as Umbro and Pantofola d'Oro.
“We see the merger with HVEG as a logical step in our growth plans. We operate from a very similar DNA, which makes us more effective in realizing our goals. The joining of forces enables us to jointly expand the iconic Mexx brand in particular,” say Ron Janssen and Ferry Helmer of RNF group. Both will remain as shareholders and part of the management after the transaction.
HVEG Fashion Group is adding a number of new brands to its existing portfolio. The company owns magic Bodyfashion, Sassa, Bamboo Basics and Brams Paris. It designs, develops and then produces private label collections for women, men, children, babies and accessories. After the acquisition of RNF Group, the combined turnover of HVEG Fashion Group will be around 285 million euros in 2024. The group will then have 530 employees.
Mike van Snek, CEO and co-owner of HVEG, commented in the press release: “The formation of this combination further substantiates HVEG’s growth strategy and our ambition to create a one-stop-shop for a growing international customer base. RNF is known as a leading player in the European shoe market and the Mexx brand enjoys worldwide brand recognition.
"The products, brands and licenses that RNF carries are highly complementary to those of HVEG, while they serve similar markets in Western and Eastern Europe. The combination of both companies will greatly strengthen our proposition to customers. We also see plenty of opportunities to further develop the Mexx brand in the coming years.”
This article originally appeared on FashionUnited.DE. Translation via AI and edit by Rachel Douglass.