Danish brand house DK Company is acquiring the brands InWear, Matinique, Part Two and Soaked In Luxury from IC Companys.
The deal is expected to see the four brands, and 30-store Scandinavian retailer Companys, come under DK Company’s management from July 1.
DK Company, which owns 17 brands including B Young, Ichi and Fransa, said it would help the business step “closer to its goal of becoming one of Europe’s leading multi-brand providers”.
Chief executive Jens Poulsen said: “With the acquisition of the four brands we strengthen our positioning in the mid-segment by introducing brands in the upper part of this segment, as we stand together as a stronger partner. With Matinique we will strengthen our portfolio of men’s brands significantly, while Soaked In Luxury reinforces our position in the younger segment and ‘real‘ fashion.”
IC Companys now plans to focus on its premium segment, which includes Tiger of Sweden and By Malene Birger, which has enjoyed strong growth over the past few years. This deal is the latest in a catalogue of changes to the IC Company business following the sale of Jackpot and Cottonfield last year.
DK Company has been steadily growing its business over the past few years and in June 2012 bought seven young fashion brands from BTX Group, a move which not only saw the firm bolster its young fashion division but also become the third-largest Danish fashion group.
Last week it revealed record results as turnover rose 33% to KR 1.58bn (£175m) and EBIT increased 13% to KR 112m (£12.4m) for 2013.