LEADING FASHION BODYWEAR BRAND ‘METALICUS’ ACQUIRED BY THE PAS GROUP
Australian brand Metalicus, known for their signature stretch bodywear, announced today that it has been acquired by The PAS Group for an undisclosed sum.
“We are delighted with the acquisition of the Metalicus business as it is a great complementary fit to our portfolio of businesses and brands,” said Eric Morris, CEO of The PAS Group.
Experimenting with stocking fabric in 1992, Melbourne designer Melma Hamersfeld transformed one stretchy piece of material into a concept for the international fashion brand now known as ‘Metalicus’. This year the brand celebrates 15 years of their signature bodywear.
The PAS Group Pty Ltd (The PAS Group) is Australia’s second largest wholesale apparel company, comprising a portfolio of well-known, high-quality businesses. These include Yarra Trail, Breakaway Apparel, Designworks Clothing Company, The Hopkins Group, The Capelle Group, Fiorelli Licensing and Review Australia. These brands are sold through hundreds of retail outlets around the country, including Myer and David Jones.
“We see a number of synergies with other divisions within our portfolio and look forward to seeing Metalicus grow from strength to strength under The PAS Group’s direction,” said Eric Morris.
The PAS Group is majority owned by private equity funds managed by Propel Investments.
“Metalicus is The PAS Group’s eighth acquisition in three years. Under Eric’s leadership, the group has emerged as a major supplier and retailer of apparel and related product across Australia, with annualised EBITDA in excess of $45 million,” said Albin Kurti, Co-founder and Managing Director of Propel Investments.
The future is shaping up to be bold and bright for Metalicus, as Business Founder Melma Hamersfeld comments, “It’s an exciting time to pass on this amazing business to The PAS Group, who will take it to a whole new level and establish Metalicus as a major global fashion success story.”
Metalicus has a pared-down aesthetic which translates into wearable lifestyle pieces designed for layering or to be worn as simple basics. The collection of separates is distinctive due to the use of two-way stretch ‘one size’ fabrications, on-trend styling and a constantly changing seasonal colour palette.
A highly innovative and a widely recognised brand in the Australian and New Zealand women’s fashion markets Metalicus has an emerging presence in key export markets including the UK, Europe, Canada, South Africa, Japan and the USA. Plans to further capture the export market include the recent appointment of a Japanese distributor to add to their UK, Europe, USA and Canadian distributors; this sales focus is backed by the employment of PR agencies in the UK and USA.
Metalicus has developed a successful business model that has delivered exceptional growth. Sales have doubled every two years across their range of high quality differentiated products, predominantly targeting women 20-40 years of age which include Metalicus, Mini Metalicus (2-8 yr olds) and Miss Metalicus (8-14 yr olds).
General Manager for Metalicus, Julie Milnes says, “With the support of The PAS Group, Metalicus will continue to execute an aggressive growth strategy in local and global markets.”
Milnes comments that the business will continue to work closely with all current customers and suppliers, “We look forward to the continued support of our loyal national wholesale customers in the local market and growing with them into the future. The Metalicus business will continue to operate as we have always done – with focus on innovative and quality product, great customer service and on time delivery.“
Following the success of the Metalicus Retail spaces where the brand is consistently the number one fashion retailer ($ per square metre) at Bondi and Chadstone; Metalicus opened in Kotara last month and have secured a site on Chapel Street in Prahran to open later this month. Plans for the further roll out of a flagship retail store in each CBD of all states of Australia is already underway. Overseas Metalicus has marked the UK as a key region for growth and is currently reviewing sites for its first flagship store in London.
In addition to their Retail stores, Metalicus is sold through an extensive wholesale network of more than 400 stores including Myer and David Jones. Internationally Metalicus is stocked in over 200 stores within iconic department stores and boutiques including London’s Harvey Nichols and Liberty, Cara & Co in Russia and Scoop NYC in the USA. The brand continues its wholesale growth within Australia, New Zealand and the international market, which is expected to increase dramatically within the next 12 months.From the most recent season, Metalicus has secured new accounts, including Neiman Marcus in the USA.
Business founder Melma Hamersfeld will continue to be involved in the business as a consultant with the new owners, “I wish PAS all the very best! It’s so great to take a step back from the business with a great order from Neiman Marcus, the opening of Chapel Street, and a fantastic response from wholesale and retail customers. Metalicus is in good hands – the brand is on the way to shift from being an iconic and very successful Australian business to being a strong player in the international fashion world. Exciting times are ahead.”
For further information, images or to arrange an interview, please contact:
Rae Begley of Little Hero
0419 890 888