Wacoal Europe has today announced that it has sold the lingerie and swimwear brand Huit to Trendy Capital, owner of French nightwear brand Canat.
The decision has been made in line with Wacoal Europe’s strategy to grow its fuller bust business and expand its European and international presence.
Wacoal Europe said that despite investing heavily in trying to improve Huit’s success since it bought the business out of administration in 2010, a ‘highly saturated competitor market’ has meant the business has resisted any significant growth.
Wacoal Europe Chief Executive Geoff Embley said: “This has been a difficult decision but we believe this is the best decision in the long term for our customers, the employees of Huit and the Huit brand.
“We are market leaders in our industry and have made every effort to grow and develop the brand. Importantly, we have taken every step we can to ensure the Huit business is protected and has a future.”
Trendy Capital acquired Huit on July 9 after fending off competition from several other interested parties, according to Wacoal.
Under the new ownership, Huit will be known as Huit France.
Wacoal Europe will now continue to support the Huit business for the next two seasons across all of its markets to ensure a smooth transition including the UK, Eire, USA, Canada, Australia, Denmark, Sweden, Norway, Germany and its distributors in Asia.