- Marjorie van Elven |
Dutch company Victory & Dreams International Holding BV has acquired fashion brand Bonita from German group Tom Tailor Holding SE. The agreement still needs to be approved by the authorities and the terms of sale haven’t been disclosed. Tom Tailor had already announced its intention to sell Bonita in December 2018.
“The sale of Bonita is an important step for the Tom Tailor Group. We create a clear situation by freeing up our capacity and as a result we can focus on the future by implementing a successful strategy for the Tom Tailor brand”, said Heiko Schäfer, CEO of Tom Tailor Holding SE, in a statement. “Tom Tailor did very well last year despite the difficult circumstances the entire sector is going through. Bonita is going through a difficult restructuring process which we have fully supported in recent months. We have come a long way but the synergies we had in mind when purchasing the brand can no longer be implemented by Tom Tailor Group"
“We are convinced that Bonita can develop further under its new owner. Victory & Dreams International Holding has presented a concept for the continuation of the brand and its Hamminkeln office, which is very important to us. Bonita also matches the rest of Victory & dreams’ portfolio very well”, said Schäfer. Victory & Dreams also owns Miller & Monroe, Witteveen Mode and Men at Work.
Bonita was valued at 184.5 million euros in December 2018 and achieved a turnover of 127 million euros in the first nine months of 2018.
Photo: Bonita website