NEW YORK CITY — June 28, 2018 — Chargeurs Fashion Technologies, the world’s second-largest apparel interlinings manufacturer, today announced that it is acquiring Precision Custom Coatings’ (PCC’s) interlinings business as a key pillar of its U.S. and worldwide expansion strategy. The acquisition, the company’s first in the United States and its largest to date, will expand Chargeurs Fashion Technologies’ global footprint and propel the business into new technical performance wear categories, such as outerwear, performance apparel and athleisure, as well as intimate apparel. Chargeurs Fashion Technologies currently works with luxury, ready-to-wear and fast-fashion brands that include Chanel, Gucci, Hermès and Uniqlo.
Chargeurs also announced that Angela Chan, managing director and president of Chargeurs Fashion Technologies, will be responsible for overseeing the company’s worldwide expansion. Chan is an industry leader with expertise across sourcing, business development, merchandising, product development and multichannel retail in North America and Asia. Additionally, current PCC CEO Scott Tesser will join Chargeurs Fashion Technologies as chief sales officer, reporting directly to Chan, and will be responsible for the combined entity’s global sales strategy.
“This acquisition is our most important to date and will be a game changer for our client base,” said Michaël Fribourg, Chargeurs’ Group chairman and CEO. “Angela Chan is very well prepared to lead the successful integration of the two companies, and this transformative agreement will create a global champion with operations across Europe, the Americas and Asia. The newly combined entity will offer clients solutions that perfectly address their needs in terms of technical and operational performance.”
“I’m thrilled to be leading Chargeurs Fashion Technologies as we write a new chapter in the company’s history by consolidating a niche business that requires just the right blend of speed, technical content, differentiation and expertise,” said Chan. “Thanks to PCC’s excellent strategic fit, we will be able to provide global solutions that help fashion leaders transform their business models, particularly as they shift toward a real-time supply chain.”
Since late 2015, Chargeurs Fashion Technologies has been executing a strategy that involves a more selective marketing approach and it has been systematically upscaling its offerings, showcasing them in new showrooms in Paris, New York and Milan.
“We have the utmost confidence that Angela Chan’s wide-ranging experience and in-depth understanding of the industry’s key challenges will enable her to lead our expansion into the all-important U.S. market and beyond as we continue to execute our global vision,” Fribourg added.
“We are all excited by the opportunity this transaction creates,” said Tesser. “Chargeurs’ innovative product range and global presence, combined with PCC’s powerful commercial strategy and close brand relationships in the US and Asia, will ensure we maintain a substantial market presence and achieve sustainable growth.”
The acquisition, which consists of a share deal of PCC Asia and an asset deal of the PCC USA interlinings business carveout, is expected to result in no redundancies and to be completed by the end of 2018. PCC has annual revenues of more than $80 million and employs 300 people in 10 countries worldwide.
Posted June 28, 2018
Source: Chargeurs Fashion Technologies