Media Release
The PAS Group continues its aggressive expansion with the acquisition of three major fashion businesses: Capelle, one of Australia’s largest accessories wholesalers; Review, a high-profile and successful womenswear fashion retailer and Fiorelli, a leading fashion licensing brand.
The acquisitions continue the rapid growth of The PAS Group, formerly known as Pacific Apparel Solutions, which in little more that two years has become one of the nation’s largest apparel wholesale businesses.
Eric Morris, The PAS Group Chief Executive Officer, said Capelle, Fiorelli and Review were outstanding businesses that provided excellent opportunities for further growth and a base for The PAS Group to build strong synergies across its brand portfolio.
“We are very pleased to welcome three of Australia’s strongest home-grown fashion businesses into The PAS Group. They have established themselves as dominant brands in their respective markets which makes them an ideal fit with our business strategy,” Mr Morris said.
Capelle is one of Australia’s largest accessories businesses specialising in handbags, belts, footwear, luggage and accessories. Founded by Peter and Kay Collings and based in Melbourne, the business supplies product under the Capelle and Annapelle brands as well as licensed product for JAG, Diana Ferrari, Blazer and Fiorelli.
Review is a strong fashion brand based in Melbourne. The company operates 13 retail stores in high-profile locations and also operates 14 concession outlets in top Myer stores around Australia where it is consistently among the department store’s best performing concession brands. Review focuses on stylish, modern fashion for women aged between 18 and 35 and has built a strong and loyal customer base since being founded by Peter Strain and Jayne Ellis in 1985.
Fiorelli is a highly successful Australian fashion icon brand specialising in accessories including handbags, shoes, watches and eyewear available in more than 500 retail outlets across the country.
Capelle and Fiorelli joined The PAS Group on October 27 and Review joined the group on October 31.
Mr Morris said The PAS Group would work with current management to ensure Capelle, Fiorelli and Review continued to perform successfully while identifying opportunities for further growth. At Capelle, founder Peter Collings stays on as Chief Executive Officer with Leon Pendergast appointed Managing Director. At Review, co-founder Peter Strain remains Chief Executive Officer and co-founder Jayne Ellis continues in her role as head of Design and Merchandise. Each founder has retained a substantial minority shareholding.
“Our growth plan involves acquiring businesses that have established themselves as strong performers in the Australian market, work with management to identify how we can ensure continued growth, and identify opportunities to leverage across the group,” he said.
“We see tremendous opportunities for Capelle to produce product potentially for brands within The PAS Group stable.”
The PAS Group companies include Yarra Trail, Breakaway, Designworks and Hopkins Group, with labels including Yarra Trail, Bureau, Breakaway, Black Pepper, Yvonne Black, Equus, Marco Polo, Capital M, Sirocco, Plenty, Chino Kids, World Industries and Anger Management. Group brands are available at Myer, David Jones and more than 1,800 retail outlets across Australia.
Mr Morris said The PAS Group was continuing to identify possible opportunities for further acquisition in the Australian market.
“As one of the largest apparel wholesale businesses in Australia with a strong business profile, we are attracting a lot of interest in the industry. We will continue to talk to suitable businesses as we seek to identify opportunities for growth,” he said.
The PAS Group was established in 2004 by DB Capital Partners, the private equity arm of Deutsche Asset Management, as part of a roll-up strategy in the apparel sector. With the backing of its majority private equity shareholder, The PAS Group’s management and board continue to target other successful, established businesses that will add further value to the group.
Further information:
John Gillman
commr – communications and public relations
0419 995552
john.gillman@commr.com.au