China's Trendy Group acquires majority stake in Dutch denim label Denham
today Jan 18, 2019
Chinese fashion group Trendy Group announced today that is has acquired a majority stake in Dutch company Denham Group, the parent company of denim label Denham the Jeanmaker. Trendy is taking over the majority stake from Amsterdam-based investment firm Amlon Capital for an undisclosed amount.
Denham founder Jason Denham will remain at the company as chief creative officer as well as in his capacity as a shareholder, Trendy said in a press release.
Ludo Onnink, CEO at Denham Group, announced that he will leave the company. Andre Chen, the current senior vice president at Trendy Group, will succeed him.
Onnink said about the acquisition: “Trendy Group is a strong retail company with its roots in China and over the years it has successfully rolled out well-known international brands in China, including Miss Sixty and Superdry. With Trendy Group as a new major shareholder with all the relevant experience needed for our group, this will be a major step for our 10-year-old business, embarking for the next decade of growth.”
Andre Chen, senior vice president at Trendy Group and incoming CEO at Denham Group, added: “We see many opportunities to grow the Denham business in the existing markets but also as the most influential denim player in the future. This will not only be achieved by extending our jeans business, but also by adding additional product categories.”
In March 2017, Denham Group and Trendy Group announced a joint venture with the aim of a further expansion of the denim brand in China. To date, the joint venture has introduced 16 retail stores in key cities in China and has plans to further grow the business in the coming years as a result of the acquisition.
Denham was founded in Amsterdam in 2008 by Jason Denham. Today, the brand operates in more than 20 countries, with stores in Amsterdam, Antwerp, Hamburg, Tokyo, Osaka, Shanghai and Seoul. The label is also available via wholesale partners and via its own online store. The Denham headquarters is based in Amsterdam, with satellite offices in Düsseldorf, Shanghai and Tokyo.
Trendy Group launched in 1999 and has grown into an international fashion conglomerate. Its portfolio consists of fashion brands including Ochirly, Five Plus, Coven Garden and Trendiano as well as fashion brands of the Italian house Sixty Group, Miss Sixty; Killah and Energie.
Copyright © 2019 FashionNetwork.com All rights reserved.