Dutch private equity group Fashion Fund I has completed the break up of the Secon Group, the Dutch brands house behind womenswear brands Turnover and Creenstone and menswear brand Arrow.
Fashion Fund I acquired Secon Group in 2006 and last year both parties decided to conduct a “thorough evaluation of strategic alternatives” due to the credit crisis and difficult trading conditions. It decided to execute a divesture strategy with the aim of optimising shareholder value.
Contemporary womenswear label Creenstone has been sold to Netherlands-based womenswear wholesaler Luxor, which also owns beachwear brand Shiwi.
Men’s lifestyle brand Arrow was taken over Tommy Hilfiger last month.
Contemporary womenswear brand Turnover was bought by Dutch brand house Veldhoven in May this year .
Fashion Fund I said the brand rights of womenswear brands Another Woman and A-rticles have also been “successfully disposed”. It is unclear who has taken up the rights to the brands.
The financial details of the transactions were not disclosed.
Fashion Fund I said it would continue to grow its other investments which include French luxury resort-wear brand Vilebrequin.