Global Brands acquires TLG Brands
Global Brands Group Holding Limited, one of the world’s leading branded apparel, footwear, fashion accessories and lifestyle product companies, has bought the portfolio company TLG Brands from Synova Capital.
The company realised a return of 3x invested capital with the sale of TLG, which holds the Fiorelli, Modalu and Nica handbag brands and is the UK’s leading supplier of fashion accessories, Synova said. Synova acquired TLG in 2008 with the plan to develop its online presence and drive international sales, focusing on Asia and Europe.
As a result, Synova said TLG enjoyed "significant growth" in its online business and in international markets. Total revenues grew from £13m pre-investment to over £30m at exit, with profits growing almost threefold over the same period.
Philip Shapiro, a Managing Partner of Synova and a Director of TLG, commented: “We worked with an exceptional management team to deliver strong growth in TLG’s leading brands both in the UK and internationally. The exit is a result of the ambition and hard work of that team and their excellent working relationship with Synova. With market leading positions in all of their key territories we wish the team every success in the next stage of the Company’s development.”
Mike Hiscock, CEO of TLG, commented: “I have greatly enjoyed working with Synova who demonstrated a detailed understanding of our business. Their strategic input and vision has been fundamental in ensuring we achieved our goal of developing a multi-channel, multi territory branded accessories business.”
Copyright © 2022 FashionNetwork.com All rights reserved.