Jacques Vert’s back office operations are to be merged with those of retailer Irisa – formerly Alexon – under new owner Sun European Partners.
The two mature womenswear retailers will share systems including merchandising and IT under the plans drawn up by Sun European, which acquired Jacques Vert last month.
Sun European managing director Paul Daccus said: “Jacques Vert has already invested in its systems and processes while Irisa needs a lot of investment. It makes sense to merge the two.” The private equity house also expects to make margin gains across both fashion groups, moving some production to its Far East sourcing operation.
Sun European will also stock both groups’ brands in V&D, the Dutch department store group it owns. Daccus said it would explore other international concessions.
The Jacques Vert acquisition was stimulated by Sun European’s purchase of Alexon in September, said Daccus. Sun European plans to grow the online and mail-order business of both Jacques Vert and Irisa, particularly for their plus-size brands.
Jacques Vert, which operates the Planet, Precis and Windsmoor as well as the eponymous brand, was snapped up in a deal which valued it at £41.2m. It operates from 900 outlets, predominantly concessions.
Sun European, which also owns sofa retailer ScS, bought sports specialist American Golf last month for an undisclosed sum.
No comments yet