Chinese apparel group Zhejiang Semir Garment has bought the French kidswear giant Kidiliz.
The press release that was issued on 2 October 2018 confirmed that the discussion that had started back in May 2018 finally got inked on 1 October.
Semir will have 100 per cent stake in the kidswear group though the value of transaction was not disclosed.
The Kidiliz Group is expected to speed up its plans of expansion in China with the finalisation of this acquisition deal. The Group will have access to Semir’s expertise, implementation skills and resources.
Both the new partners said that together they can be the second best in the world with regard to kids wear. While the Semir Group can focus on China and rest of Asia, the Kidiliz Group can work on enhancing the premium international kids wear.
Together, both the firms have sales earnings of US $ 2.3 billion.
It is worth noting that Kidiliz has been in China for 2 decades and retails 15 brands across the globe. The Semir Group, on the other hand, has an impressive network of 8,000 monobrand stores with a turnover of € 1.6 billion.
