(Filed Under wholesale Lingerie News). New Zealand-based intimate apparel manufacturer Bendon has merged with Australian intimate apparel company Pleasure State.
The merger and strategic direction will be led by Justin Davis-Rice, chief executive officer of Bendon, and non-executive chairman Bill Wavish, formerly an executive at Australian department store chain Myer.
Bendon believes the merger will add to its substantial global sales platforms and that the move is part of an aggressive growth strategy for the company.
"Bendon’s size and scale makes the company a dominant force in the Austalasian intimate apparel industry," stated Davis-Rice. "We believe the intimate apparel and swimwear market is ripe for consolidation and we intend to capitalize on this opportunity."
Bendon was founded in Auckland, New Zealand in 1947 and serves as the manufacturer and global licensee of several intimate apparel brands, including Bendon, Bendon Man, Elle Macpherson Intimates, Fayreform and Stella McCartney Lingerie. In 2003, the company was acquired by Cullen Investments Ltd. Eric Watson, owner of Cullen Investments, will retain a stake in Bendon. The company has 14 stores and 16 outlets in New Zealand and five stores and 11 outlets in Australia.
Pleasure State was founded in 2004 by Davis-Rice and Kay Cohen, a former Elle Macpherson Intimates designer. The company distributes products in the Australasian, European, U.A.E. and U.S. markets, including the BioFit push-up bra, which is sold exclusively in Victoria’s Secret stores in the United States.
The merged companies will operate under the Bendon name and headquarters will remain in Auckland, New Zealand.
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