Lever Style has further solidified its position in the apparel industry by acquiring Elegant Team Development’s apparel business through an asset purchase. This move marks Lever Style’s first acquisition since 2021 and the sixth since its IPO in 2019, demonstrating the company’s commitment to strategic growth.
Stanley Szeto, Executive Chairman of Lever Style, outlined the company’s approach, stating, “Our strategy is to grow organically during strong economic times, and acquire fellow manufacturers and transforming them into our asset-light platform business model during challenging times.”
Lever Style, one of the world’s fastest-growing apparel production platforms, achieved a remarkable 51 per cent growth in 2022 and 64 per cent growth in 2021. The company’s method involves aggregating smaller apparel supply chain entities, leveraging Lever Style’s scale, progressive management, platform business model, and financial prowess. This strategy not only enhances the company’s capabilities but also benefits acquired companies, providing them with increased resources and opportunities.
Elegant, a supply chain solutions provider with expertise in outdoor and activewear, complements Lever Style’s existing strengths. It serves esteemed brands such as Mammut, Jack Wolfskin, Red Bull, and Beretta. Notably, Elegant’s specialisation in outdoor and active apparel aligns seamlessly with Lever Style’s focus. Moreover, Elegant offers the advantage of production in Bangladesh, expanding options for Lever Style’s clientele.
Lever Style is already a trusted partner for various renowned apparel brands, including Arcteryx, Haglofs, Helly Hansen, Paul Smith, Armani, Hugo Boss, Theory, Aime Leon Dore, Todd Snyder, Spanx, Vuori, Bonobos, and Stitch Fix. This strategic acquisition further enhances Lever Style’s capabilities, particularly in the outdoor and active apparel sectors, ensuring a broader and more versatile service for its diverse customer base.
