VF takes stake in Mo's sportswear brands
VF Corporation has acquired one-third of the capital stock of California-based Mo Industries, owner of the Splendid and Ella Moss women’s sportswear brands. The agreement offers a mechanism through which VF may acquire the balance of the capital stock in the early part of 2009.
Mo Industries is owned by founder Moise Emquies, who serves as chief executive officer and president, and Summit Partners, a private equity and venture capital firm.
The Splendid brand makes luxury knit products combining soft fabrics, advanced fit and modern styling, while the Ella Moss brand is an ultra-feminine knit top and dress collection featuring bold, bright colours.
Combined revenues of the two brands exceeded $80 million last year and have tripled since 2004.
VF's brands include The North Face, Vans, Reef, JanSport, Nautica and Kipling.
