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June 3, 2019updated 05 Nov 2021 5:36pm

PVH buys Australian apparel retailer Gazal

US clothing company PVH has purchased the remaining interests in Australian apparel supplier and retailer Gazal for around A$124m ($88.05m).

US clothing company PVH has purchased the remaining interests in Australian apparel supplier and retailer Gazal for around A$124m ($88.05m).

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Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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Announced in February this year, the deal will give PVH full control of the PVH Brands Australia, the JV, with its long-term partner in the country Gazal. PVH now owns approximately 78% of Gazal shares.

PVH Corp. chair and CEO Emanuel Chirico said: “Our decision to acquire Gazal is aligned with PVH’s strategic priority to expand our worldwide reach by assuming more direct control over our brands’ regional licensed businesses.

“By joining forces now, we believe we’re well positioned to capture the significant growth in the Australia and New Zealand markets.”

“Our decision to acquire Gazal is aligned with PVH’s strategic priority to expand our worldwide reach.”

The JV has also signed employment agreements with four key members of Gazal’s management team. These agreements will allow the members to continue in their roles for at least two years.

The four executives have used approximately 25% of their interests in Gazal to subscribe for nearly 6% of the outstanding stock of the PVH subsidiary.

Chirico added: “We are pleased to welcome the Australian retailer into our PVH family and continue driving our business forward together.”

Established in 2014, PVH Brands Australia licences and operates lifestyle apparel brands of PVH, including Calvin Klein and Tommy Hilfiger, Van Heusen, Pierre Cardin, Bracks and Nancy Ganz in Australia, New Zealand and parts of Oceania.

As of July 2018, the JV’s trailing twelve months revenue was A$260m.

Grant Samuel Corporate Finance and Johnson Winter & Slattery served as financial adviser and legal adviser, respectively, to Gazal for the transaction.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.