The world’s second-largest apparel interlinings manufacturing company, Chargeurs Fashion Technologies, has recently just acquired Precision Custom Coatings (PCC) interlinings business. This new acquisition is part of the company’s expansion strategy, not just for the US, but also for the world. Currently, the company works with luxury, ready-to-wear, fast-fashion brands which include big names like Chanel and Gucci.
The acquisition is Chargeurs’ first acquisition with the US, and its largest one to date, and will expand its global reach as well as letting it enter the market of technical performance wear, which include clothing articles like outerwear, performance apparel, and athleisure, plus intimate apparel.
The company has announced that Angela Chan, its Managing Director and President, will be overseeing the company’s expansion efforts throughout the globe. Chan is an industry veteran, with experience in fields like across sourcing, business development, merchandising and multi-channel retail, having operated in both North America and Asia. Additionally, the Chargeurs also stated that PCC’s current CEO, Scott Tesser, will be joining the team as Chief Sales Officer, reporting directly to Ms. Chan, and will handle the combined entity’s global sales operations.
Michael Fribourg, Chargeurs Group Chair and CEO issued a statement on the matter, saying that this latest acquisition is the their most important one to date, and will drastically change the way they interact with their client base. He says that Angela Chan is ready to lead for the successful integration of the two companies, and that this new agreement is the first step towards turning Chargeurs into a global champion. He promises that the newly combined corporate entity will offer their clients solutions that will perfectly address their technical and operational performance needs.
Chan says that she is thrilled to be leading Chargeurs Fashion Technologies in creating this new chapter in its history by consolidating a niche business. She says that, thanks to PCC strategic fit, they’ll be able to provide global solution that help the leaders of the fashion industry.
The acquisition, which consists of a share deal of PCC Asia as well as an asset deal of the PCC US interlinings business carveoutis expected to not lead to no redundancies, and is scheduled for completion by the end of 2018. PCC’s annual revenue of $80 million, with 300 employees in 10 countries across the world.