The HVEG Fashion Group (HVEG), which recently acquired the Dutch fashion group RNF Group with brands such as Mexx, Fred de la Bretoniere and Shabbies, is now also taking over the W Fashion Groep (WFG).
This step is in line with the growth strategy and the goal of the Dutch fashion group to combine own brands, brands and licenses and thus strengthen its own position, HVEG announced on Thursday. The merger will result in a combined turnover of 315 million euros and a number of employees of 600 in 2024.
WFG, based in Maastricht, Netherlands, has the license for the Italian sportswear brand Lotto for the Netherlands, Belgium and Luxembourg (BeNeLux) and the footwear and clothing license for the workwear brand Stanley for the European Union. There is also the subsidiary Lumas International, a provider of home textiles such as bed covers, kitchen and bathroom textiles.
“We are pleased about the excellent addition of WFG, RNF and HVEG. The synergy effects and growth potential are enormous,” said HVEG CEO Mike van Snek. “Our strategy aims to further diversify our business activities to form a solid group of unique business units, each with its own product or market focus. This allows us to respond optimally to the constant changes we are faced with.”
WFG and RNF will continue to operate as independent business units within HVEG even after their respective acquisitions. In addition to the two companies, the brands Magic Bodyfashion, Sassa, Bamboo Basics and Brams Paris are also part of the clothing group’s portfolio. HVEG also develops and produces private label fashion for women, men, children and accessories.