Apr 12, 2016
De Vere Investments Acquires Meccano Clothing Company
Apr 12, 2016
De Vere Investments, owner of womenswear label Ruby, has added another fashion retailer to its fold with the acquisition of New Zealand menswear brand Meccano, a maker of everyday clothing, effective March 30.
Both companies have a well-established working relationship. Meccano's former owners, Dai & Cheryl Endicott-Davies, were pleased the business remained in the hands of a family-owned New Zealand company.
“Meccano has worked with De Vere as a trusted supplier for more than 10 years, so we believe that the business is in safe hands," said the Endicott-Davies.
De Vere Investments’ Managing Director Vere Sharma said he looked forward to building the Meccano brand.
"We’re committed to evolving and strengthening Meccano and ensuring it remains relevant and competitive in today’s market," said Sharma.
“Though it’s a challenging and dynamic time for the retail industry, with the growth of online sales and increased competition from New Zealand and offshore, we believe that if you do something with passion and focus it will succeed.”
All staff will remain at Meccano’s 15 outlets across New Zealand including Dunedin and Auckland, while the company’s head office will relocate to an Auckland space, where they will work alongside the De Vere and Ruby teams.
The acquisition takes De Vere company employee numbers to more than 130, with 25 retail outlets across New Zealand.
Founded in 1993, Meccano’s first store opened at Centre Place mall in Hamilton.
By Benjamin Fitzgerald
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