The PAS Group has acquired online occasion-wear business White Runway after it reported a 100 per cent revenue increase FY2015.
The Sydney-based company offers around 400 styles of dresses in an extensive range of colours and size options in a bid to cater to a growing and international customer base.
PAS CEO Eric Morris said that the acquisition was prompted by a firm belief in the potential of the business.
“White Runway is a unique online business which gives us an opportunity to expand in the large and growing bridal and occasion-wear segment.
“There are strong synergies with our existing business, including the use of the same online portal as our Review, Metalicus and Black Pepper online business.
“We see significant opportunities for growth through geographic expansion in Australia and building the international customer base.”
White Runway founder Rebecca Marsh believes that the business can only benefit from the deal.
“We are excited to become part of a successful fashion group.
“PAS brings a wealth of knowledge and experience in the industry which will enable White Runway to further enhance the customer shopping experience.
“We are thrilled to take White Runway to the next level with PAS.”
The acquisition was reportedly funded by PAS’s existing cash resources will be immediately earnings accretive.
White Runway also launched its first international pop up showroom in New York recently, with plans to further expand its reach in Australia and other locations around the globe.