VF completes sportswear brands acquisition
VF Corporation has acquired the remaining two-thirds of the capital stock of Mo Industries, owner of the Splendid and Ella Moss contemporary sportswear brands. VF had previously purchased one-third of Mo Industries stock from its owners, founder Moise Emquies and Summit Partners.
The Splendid brand uses luxurious fabrics in a wide range of contemporary knit products incorporating modern fit and styling, while the Ella Moss brand is an ultra-feminine collection of casual knit tops and dresses featuring a range of bold colours.
Both brands are distributed primarily through better department and specialty stores. Combined revenues were $95 million in 2008 and have more than tripled since 2004.
The two brands will become part of VF’s contemporary brands coalition, which also includes the 7 For All Mankind and lucy brands. VF has also decided to shift responsibility for its John Varvatos luxury men’s sportswear business from its sportswear coalition to its contemporary brands coalition.
Mr Emquies will continue as founder/chief executive officer, reporting to Mike Egeck, president – contemporary brands. Jonathan Saven, who has been serving as chief financial officer and chief operating officer of Mo Industries, has been promoted to president. Pamella Protzel Scott will continue in her role as creative director for Splendid and Ella Moss.
