Holland Fast Fashion Brand Mexx Announces Bankruptcy

Holland's fast fashion brand Mexx has declared bankruptcy. Its 315 European stores are still open as usual, clearing inventory and waiting for potential buyers. If there are no buyers for a long time, 1500 employees will be faced with a crisis of unemployment.

The US private equity fund The Gores Group and LLC acquired Mexx 81.75% stake in 2 in November 2011, while the Liz Claiborne Inc. still retained 18.25% stake.

Bankruptcy administrator Frits Kemps says Mexx bankruptcy Mainly due to the reduction in consumer spending on clothing after the financial crisis, the industry also believes that the decline of Mexx stems from not attracting young people. Consumer And consumers who grow up with brands have reached the age of 40-45.

　　 Mexx Founded by Rattan Cadha in 1986, the brand was sold to Liz Claiborne Inc. in 2001, and then Rattan Cadha left the company in 2006, when the company's turnover declined to 500 million euros with the closing of stores.

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This year, following the Jones Group Inc. Jones group's private Holdings Company Sycamore Partners LP, the high-end women's shoes brand Stuart Weitzman Holdings LLC is likely to fall into the hands of the US footwear retailers, Brown, and even the company.

In December 2013, Sycamore Partners LP bought the Jones Group Inc. Jones group of US apparel production company for $2 billion 200 million (including $1 billion debt). In August this year, we hired Goldman Sachs Group Inc (NYSE:GS) and Goldman Sachs (Group) Citigroup to sell and sell them to the Jones group to raise funds for the purchase of other clothing and footwear retailers such as the company.

It is reported that the price of Stuart Weitzman Holdings LLC may be close to $1 billion, and the brand is valued at only $6-7 billion. The final result of the bid is expected to be announced by the end of this month. In addition to Brown Shoe Company Inc. (NYSE:BWS) and Coach Inc. (NYSE:COH) Cox group, there is also at least one private Holdings Company interested in acquiring Stuart Weitzman Holdings LLC.

Stuart Weitzman Holdings LLC has about 45 stores in the US market, with 61 stores and 10 outlets in the international market, plus e-commerce and wholesale business, with an annual sales of about 300 million US dollars. Brown Shoe Company Inc. (NYSE:BWS) has more than 1200 stores, mainly in the United States, with annual sales of over $2 billion 500 million.

Stuart Weitzman Holdings LLC will make a conscious addition to the Coach Inc. (NYSE:COH), which is committed to transforming the leather brand into lifestyle brand, because shoes are exactly what the Coach Inc. (NYSE:COH) Cox group focuses on in the transformation process.