Eveden chief executive Tracy Lewis talks to Lingerie Insight about the sale of the business to Japanese intimate apparel group Wacoal.
How will this impact on Eveden’s development?
I think there is a huge opportunity within manufacturing. I mean, [Wacoal] has over 40 manufacturing facilities and that can only benefit our manufacturing expertise and capabilities, and also make our footprint a little bit smaller.
How will the change in ownership affect retailers?
They are not going to see a difference. They are still going to see the same people, they are still going to see the same product – or hopefully better product – as time goes on…
I hope that they see the benefits in terms of us not increasing prices, even though commodity prices are increasing, because this should mean that we can pass on the benefits of some of these operational improvements to the consumer.
Why did you choose to sell the business to Wacoal?
We felt that it was time to take a bigger step and in order to do that it was probably better that we were part of a bigger business, which would give us the [necessary] impetus and the support.
We really did select the partner. It was very much about the fact they are right for the business and right for us. I think we are just really excited about what the next few years will bring
Why did you choose now to take this step?
The timing was almost a circumstance rather than, necessarily, really being ‘oh my god, we are going to do something in 2012’.
And, we know them well. We have known them for several years and have obviously been talking to each other. So, this has kind of long been mooted. Certainly, we have been on each other’s radar for quite a period of time.
How does Wacoal benefit?
Part of their strategy over recent years has been to grow their overseas business and be a little less reliant on their home business. They have been looking at the US, they have been looking at Europe to try and find the right partner. They have got a US division that will basically sit alongside us as a sister company.
Read more about how the sale of Eveden could impact positively on retailers and the company’s plans for the future in the May issue of Lingerie Insight.