HVEG Group B.V., operating under HVEG Fashion Group, a group of internationally operating fashion companies including Fashion Linq, Jomo Fashion, HVEG Accessories Group, and the brands Bamboo Basics, Twinlife, and Brams Paris, has acquired MAGIC Bodyfashion from Almelo. The companies within HVEG primarily focus on developing private label collections for large retail chains, but in recent years, HVEG has increasingly developed its own brands. With this acquisition, HVEG aims to continue its growth strategy and further expand its product range and customer portfolio both domestically and internationally.
For over 30 years, MAGIC Bodyfashion has successfully offered shapewear, lingerie, hosiery, and (body)fashion solutions for women, with the company experiencing significant international growth over the past decade and positioning itself towards a Total Body Solution concept.
Following the acquisition, the combined turnover will amount to approximately 150 million euros, with MAGIC Bodyfashion being further developed as an independent business unit within HVEG. This means that both MAGIC Bodyfashion and the other companies within HVEG will retain their own market approaches.
Both fashion companies will be able to leverage each other’s knowledge and experience post-acquisition to become an even stronger European fashion player.
Mike van Snek, CEO of HVEG, commented: “We are very pleased with this acquisition and see a great fit between MAGIC Bodyfashion and HVEG Fashion Group with potential synergy benefits. HVEG’s strategy is focused on not only further growing its private label activities but also expanding its branded business, with the goal of creating a more balanced contribution to the results of each of the business units.”
About HVEG Fashion Group
HVEG is a group of internationally operating fashion companies specializing in the development, procurement, and sale of private label fashion for women, men, children, babies, and accessories. In addition to private label activities, HVEG is involved in various brand-related activities. With a team of approximately 220 employees in Europe and about 100 employees in Asia, the company is committed daily to offering commercially and sustainably responsible collections. Its mission is to relieve customers by developing affordable fashion in a more sustainable way.
For more information:
[email protected] or +31 (0)33-7523193
https://hveggroup.com
https://magicbodyfashion.nl
