The group has revealed that it will acquire five brands from the Japanese apparel maker.
Following the outbreak and subsequent spread of Covid-19, fashion retailer Renown filed for bankruptcy protection in May and the Koizumi Group has been in talks with the retailer to acquire a selection of their brands, including D’urban menswear. Chairman of the group Isamu Uemoto is confident and positive regarding the acquisitions, commenting that the addition of these fashion brands will only strengthen their portfolio.
He commented: “We want to improve the image of our entire group through the acquisition of the Renown brands. If we reduce the number of stores to an appropriate level, and cut costs by utilizing our production and logistics capabilities, we will be able to strengthen our structure.”
Koizumi Group has a selection of apparel offerings including their own brand Koizumi Apparel as well as Golden Bear, acquired in 2009 and Garconne, acquired in 2014.
