Daily Newsletter

13 October 2023

Daily Newsletter

13 October 2023

Avery Dennison to acquire Silver Crystal Group to boost position in sports apparel  

Global leader in materials science and manufacturing, Avery Dennison plans to acquire Silver Crystal Group, a player in sports apparel customisation and application across in-venue, direct-to-business, and e-commerce.

Isatou Ndure October 12 2023

The acquisition signifies a strategic move that aims to leverage the combined industry expertise, quality, and service capabilities of both Avery Dennison and Silver Crystal Group.

Upon completion of the deal, Silver Crystal Group will become an integral part of Avery Dennison's Solutions Group, thereby expanding its Embelex solutions portfolio, a comprehensive end-to-end platform for on-product branding, graphics, and trims.

“Together, I am confident we will create a force that will continue to develop the embellishment category and deliver for key customers and stakeholders every step of the way," said Michael Barton the senior vice president and general manager of apparel solutions at Avery Dennison.

The upcoming merger of Avery Dennison and Silver Crystal Group's product lines is anticipated to bring added value to sports enthusiasts. The synergies between the two companies, with their complementary product offerings and strengths, are expected to result in an enhanced level of service.

Adam Crystal, CEO of Silver Crystal Group added: “This will provide enhanced value to our esteemed customers and the industries we are dedicated to serving.”

Headquartered in Toronto, Ontario, Canada, with a distribution centre in Buffalo, New York, US, Silver Crystal Group boasts revenues of approximately $30m and is recognised for its in-venue Fanzones solution, which is deployed in more than 400 outlets within major leagues and key retail stores across the US and Canada. The company also said it has played a role in driving product innovations for several prominent brands and corporations.

The transaction is expected to be finalised during the last quarter of 2023, and until that time, Avery Dennison and Silver Crystal Group will continue to operate as separate entities.

Avery Dennison worked with e-commerce giant, Amazon to implement radio-frequency identification (RFID) technology tags to its in-store clothing offering to create a seamless checkout-free shopping experience.

Clothing and footwear ranked among the top 3 sectors by global ecommerce transactions in 2022

Per GlobalData estimates, food and drink, clothing and footwear, and accommodation were the top three sectors by global ecommerce transactions in 2022. Clothing and footwear accounted for 11% of ecommerce transactions in 2022. While consumers may wish to try on clothing and footwear items to ensure a good fit, enhanced technology that offers sizing recommendations and hassle-free returns services has made them more comfortable shopping for these goods online, accounting for the sector’s high share of transactions.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close