Wacoal explained that this acquisition will accelerate its overseas business development in Europe by strengthening its e-commerce business and focusing on expanding fitting service opportunities to improve its dominant position in the large-cup-size product market, which it believes is growing faster than the average market growth rate.
The two companies shared their plans to accelerate the speed of growth in overseas business development and further improve productivity and business efficiency by incorporating both capabilities for the design, manufacture and distribution of lingerie and swimwear.
Bravissimo noted that BDO LLP, an accountancy and business advisory firm, acted as the lead sell-side advisor in the acquisition.
Representative director, president and CEO of Wacoal Holdings Corp., Masaaki Yajima emphasised that Wacoal Europe has so far focused on the wholesale business, and by working with Bravissimo Group, the company will expand its directly managed stores that have direct contact with consumers, enabling Wacoal Europe to operate online and offline cross-selling on its e-commerce site and in its physical stores.
He said: "We are very pleased to welcome Bravissimo Group, one of the UK's leading innerwear specialists, providing high-quality products and services through its directly managed stores and its own website, as a member of our group."
Going forward, Yajima hopes the Bravissimo Group's strengths, such as its network of directly managed stores, solid customer base, and marketing know-how, will be combined with Wacoal Europe's operational capabilities to enhance the medium- to long-term business effects.
CEO of Bravissimo Group, Leanne Cahill added: "I am excited to be leading Bravissimo as it becomes part of the Wacoal group. I will be working closely with the team at Wacoal to maximise the growth opportunities that our partnership will bring whilst maintaining Bravissimo's heritage and the unique experience we offer our customers."
Wacoal produces for its eponymous brand, including other brands like Fantasie, Freya, and Elomi.
In 2021, Wacoal reiterated its support for Sri Lanka, announcing plans to further expand its manufacturing capacity in the country.
