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Tag: icebreaker

  • Icebreaker’s Eco-Friendly Fashion Woos Thailand: First Southeast Asia Store Opens in Bangkok

    Icebreaker’s Eco-Friendly Fashion Woos Thailand: First Southeast Asia Store Opens in Bangkok

    Icebreaker, a renowned outdoor apparel brand originating from New Zealand, recently established its first retail outlet in Southeast Asia. The new store, located in Central Park, Bangkok, was launched in collaboration with the Thai Outdoor Group (TOG).

    Making its debut in Southeast Asia is regarded as a significant achievement in Icebreaker’s global expansion strategy. Moreover, it solidifies the brand’s intrinsic principle of ‘Move to Natural.’ This philosophy encourages the use of natural, environmentally-friendly fibres instead of synthetic alternatives.

    The Bangkok store highlights Icebreaker’s Merino wool products, positioning the brand to capitalize on the escalating consumer interest in sustainable and high-performance apparel.

    The store inauguration was marked with the ‘Meet Your Merino Sheep’ workshop. This event provided a unique opportunity for participants to create their own Merino sheep using the same high-grade fibres that are used in the manufacture of Icebreaker garments.

    Icebreaker, established in 1995, is widely acknowledged as a trailblazer in the application of Merino wool. This material is highly prized for its breathability, temperature regulation, resistance to odour, and natural comfort under a range of conditions.

    In a remarkable development in 2018, Icebreaker was acquired by the American apparel titan, VF Corp, for $288 million, following a highly competitive bidding process.

    Questions & Answers

    What is the significance of Icebreaker’s new store in Bangkok?
    The opening of Icebreaker’s store in Bangkok marks a significant milestone in the brand’s global expansion strategy. It also positions the brand to tap into the growing consumer interest in sustainable and performance-driven apparel in Southeast Asia.

    What is the philosophy of Icebreaker?
    Icebreaker follows a core philosophy of ‘Move to Natural’, which promotes the use of natural, sustainable fibres over synthetic alternatives.

    Who acquired Icebreaker in 2018 and for how much?
    Icebreaker was purchased by the US apparel giant VF Corp in 2018 for a sum of $288 million.

  • VF next plan for Wrangler and Lee business

    VF next plan for Wrangler and Lee business

    Fast-growing apparel brand owner VF Corporation plans to spin off its Wrangler and Lee denim business into a second listed company.

    Dubbed NewCo for now, it would be a global leader in the denim category as well as incorporating the VF Outlet operations. Those businesses contributed US$2.5 billion to VF’s turnover last year.

    VF chairman, president and CEO Steve Rendle said since last year the company has been engaged in a disciplined reshaping of its brand portfolio to better position the company for long-term success in a quickly changing business landscape. In that time, VF has acquired Williamson-Dickie, and the Icebreaker and Altra brands, and sold Nautica and its Licensed Sports Group, including the Majestic brand. That has sharpened the company’s focus on activity-based outdoor, active and work lifestyles. Its brands now include North Face, JanSport, Smartwool and Eagle Creek,

    “The decision to separate these businesses will allow VF to sharpen its focus as a consumer-centric and retail-minded organisation anchored in activity-based lifestyle brands,” said Rendle.

    The Wrangler and Lee jeans business is both successful and sustainable with iconic global brands and a clear path to value creation as a standalone entity, he said.

    “This exciting step forward will mean that both VF and NewCo have the resources, management focus and financial flexibility to thrive in a dynamic consumer marketplace, creating an even brighter future for both organisations and all of their stakeholders.”

    With annual sales estimated at more than $11 billion, the trimmed-down VF business will have more flexibility to pursue its merger and acquisition strategy, explore new growth vectors and apply even more investment behind its organic brand portfolio, he said in a statement.

    Post split, VF would move its headquarters to metro Denver, a location it believes is more in keeping with its outdoor wear focus and an ideal home for its Global Innovation Center for technical fabrics and Digital Lab.

    “Locating these brands, along with select VF leaders, at the base of the Rocky Mountains will enable us to accelerate innovation, unlock collaboration across brands and functions, attract and retain talent and connect with consumers,” said Rendle, who will remain in his current role.

    NewCo’s Asian focus

    Meanwhile, the new Wrangler and Lee denim business will be free to pursue further expansion of its global footprint, with a sharp focus on Asia, building on its established presence in China. The company expects to unlock significant scale and cost efficiencies by streamlining operations, providing flexibility to pursue strategic acquisitions over time.

    Scott Baxter has been designated CEO of the new company and  Rustin Welton as CFO.

    NewCo will be headquartered in Greensboro, North Carolina where Lee will relocate its headquarters from Kansas City, joining Wrangler.

    The separation is anticipated to be complete in the first half of next year, following customary regulatory approvals and tax and legal considerations.

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  • VF Corporation finalized Icebreaker takeover

    VF Corporation finalized Icebreaker takeover

    Outdoor apparel brand Icebreaker is now under US ownership after New Zealand’s Overseas Investment Office approved the NZ$100 million+ deal.

    The purchaser is VF Corporation, which owns a diverse portfolio of lifestyle brands, including Vans, The North Face, Timberland, Wrangler and Lee.

    In a media release, North Carolina-based VF Corp said the acquisition “is an ideal complement to VF’s Smartwool brand, which also features merino wool in its clothing and accessories”.

    “Together, the Smartwool and Icebreaker brands will position VF as a global leader in the merino wool and natural fibre categories.”

    The deal was originally sealed, subject to regulatory approval, last November. At the time, founder Jeremy Moon said it was always his plan to build a global brand from New Zealand.

    “Our partnership with VF provides us with the largest platform in the world to tell our story, access new markets and reach new consumers at an accelerated pace. This is a once-in-a-lifetime opportunity for our global Icebreaker brand team and for our wool suppliers to introduce a whole new universe of consumers to the benefits of sustainably farmed, ethically sourced, New Zealand Merino wool,” he said.

    The brand is sold in 47 countries through wholesale, branded retail stores and online. Sales were estimated at in excess of US$150 million last year.

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  • Timberland buys Icebreaker

    Timberland buys Icebreaker

    US-based global fashion brand owner VF Corporation has bought New Zealand’s Icebreaker Holdings.

    Icebreaker pioneered the ethical and sustainable production of natural performance apparel for men, women and children, using Merino wool, plant-based fibres and recycled fibres.

    The brand is sold in 47 countries through wholesale, branded retail stores and online.

    The company has an annual turnover of about US$150 million, however terms of the sale were not disclosed.

    Jeremy Moon, who founded the company in 1995, says it was always his plan to build a global brand from New Zealand.

    “Our partnership with VF provides us with the largest platform in the world to tell our story, access new markets and reach new consumers at an accelerated pace. This is a once-in-a-lifetime opportunity for our global Icebreaker brand team and for our wool suppliers to introduce a whole new universe of consumers to the benefits of sustainably farmed, ethically sourced, New Zealand Merino wool,” he said in a statement announcing the deal.

    “Bringing the Icebreaker brand into the VF portfolio is a special opportunity,” added Steve Rendle, chairman, president and CEO of VF Corporation. “Its natural fiber focus is an ideal complement to our SmartWool brand, which also features Merino in its clothing and accessories. Together, the SmartWool and Icebreaker brands create an advantaged position for VF as a leader in the growing and underpenetrated natural fibre category. We will have unmatched capabilities that will strengthen our ability to create innovative and sustainable natural fiber products across our brand portfolio, especially in VF’s outdoor and workwear brands.”

    VF Corporation has a diverse portfolio of lifestyle brands, including Vans, The North Face, Timberland, Wrangler and Lee.

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