Suitsupply borrows 35 million from investor | RetailDetail

Suitsupply borrows 35 million from investor

Suitsupply borrows 35 million from investor

Dutch fashion brand Suitsupply has borrowed 35 million euro from American investor H.I.G. Whitehorse so that it may finance its international expansion, among other things.

Support growth

One of those other areas is to support the management buy-out. Founder Fokke De Jong now controls 100 % of Suitsupply's stock once again, news that was revealed last week.

 

"Suitsupply is a very successful men's clothing retailer with a unique market position and huge potential for future growth.  We are very happy to offer management an adjusted financing solution to acquire full control of the company", H.I.G. Whitehorse's managing director Haseeb Aziz said about the loan.

 

"H.I.G. Whitehorse had thoroughly analyzed our activities and understood our plan to grow and it also understood the market. This creative financing solution will help grow our business in the United States, Asia and Europe," CEO and founder Fokke De Jong added.

Questions or comments? Please feel free to contact the editors


Starbucks dumps plastic straws worldwide

12/07/2018

American coffee company Starbucks will ban plastic straws in their stores starting from 2020. A small step for coffee enthusiasts, but a big step for the environment, as the coffee giant uses about a billion straws every year.

AB InBev joins forces with Efes in Russia

12/07/2018

In order to counter the decline of their success on the Russian market, Belgian beer giant AB InBev has placed its activities in Russia in a joint venture with Turkish Anadolu Efes.

Jumbo appoints new head of Belgian branch

11/07/2018

Dutch Jumbo Groep Holding has made a management reshuffle, with Peter Isaac becoming the new managing director of the group's Belgian branch. Bart van den Nieuwenhof meanwhile is set to leave the group's restaurant chain La Place.

Snacks boost Pepsico’s sales

10/07/2018

Snack and beverage giant Pepsico has recorded a slight revenue growth of 2.4 % in the second quarter of this year. Net profit however went 14 % lower, due to rising taxes.

Ahold Delhaize changes management in Greece and Romania

09/07/2018

Ahold Delhaize has announced two changes to its management team in Europe: Vassilis Stavrou becomes Brand President of Alfa Beta in Greece. He succeeds Leonidas Vrettakos, who is retiring after 21 years with the business.

Tesco and Carrefour to join forces

02/07/2018

Brexit or no Brexit, British Tesco and French Carrefour have joined forces for the purchases of both A-brand products and private labels. Service suppliers too will face a united front from now on.