NEW YORK--(BUSINESS WIRE)--Chargeurs Fashion Technologies, the world’s second-largest apparel interlinings manufacturer, today announced that it is acquiring Precision Custom Coatings’ (PCC’s) interlinings business as a key pillar of its US and worldwide expansion strategy. The acquisition, the company’s first in the US and its largest to date, will expand Chargeurs Fashion Technologies’ global footprint and propel the business into new technical performance wear categories, such as outerwear, performance apparel and athleisure, as well as intimate apparel. Chargeurs Fashion Technologies currently works with luxury, ready-to-wear and fast-fashion brands that include Chanel, Gucci, Hermès and Uniqlo.
Chargeurs also announced that Angela Chan, Managing Director and President of Charguers Fashion Technologies, will be responsible for overseeing the company’s worldwide expansion. Chan is an industry leader with expertise across sourcing, business development, merchandising, product development and multichannel retail in North America and Asia. Additionally, current PCC CEO Scott Tesser will join Chargeurs Fashion Technologies as Chief Sales Officer, reporting directly to Chan, and will be responsible for the combined entity’s global sales strategy.
“This acquisition is our most important to date and will be a game changer for our client base,” said Michaël Fribourg, Chargeurs’ Group Chairman and CEO. “Angela Chan is very well prepared to lead the successful integration of the two companies, and this transformative agreement will create a global champion with operations across Europe, the Americas and Asia. The newly combined entity will offer clients solutions that perfectly address their needs in terms of technical and operational performance.”
“I’m thrilled to be leading Chargeurs Fashion Technologies as we write a new chapter in the company’s history by consolidating a niche business that requires just the right blend of speed, technical content, differentiation and expertise,” said Managing Director and President Angela Chan. “Thanks to PCC’s excellent strategic fit, we will be able to provide global solutions that help fashion leaders transform their business models, particularly as they shift toward a real-time supply chain.”
Since late 2015, Chargeurs Fashion Technologies has been executing a strategy that involves a more selective marketing approach and it has been systematically upscaling its offerings, showcasing them in new showrooms in Paris, New York and Milan.
“We have the utmost confidence that Angela Chan’s wide-ranging experience and in-depth understanding of the industry’s key challenges will enable her to lead our expansion into the all-important US market and beyond as we continue to execute our global vision,” Fribourg added.
“We are all excited by the opportunity this transaction creates,” said Scott Tesser, who will move into the role of Chief Sales Officer at Chargeurs Fashion Technologies. “Chargeurs’ innovative product range and global presence, combined with PCC’s powerful commercial strategy and close brand relationships in the US and Asia, will ensure we maintain a substantial market presence and achieve sustainable growth.”
The acquisition, which consists of a share deal of PCC Asia and an asset deal of the PCC USA interlinings business carveout, is expected to result in no redundancies and to be completed by the end of 2018. PCC has annual revenues of more than $80 million and employs 300 people in 10 countries worldwide.
About Chargeurs Fashion Technologies
Chargeurs Fashion Technologies provides end-to-end solutions for the world’s leading menswear and womenswear brands by designing interlining, a technical fabric used to help garments retain their shape and structure. Its parent company, Chargeurs, is based in France and serves clients in more than 80 countries. Chargeurs employs approximately 1,600 employees across 34 countries on five continents. In 2017, 19% of the group’s sales were generated in the US and 26% were generated in the Americas.
About Precision Custom Coatings’ (PCC’s) Interlinings Business
PCC’s interlinings business has operations in the US and Asia and is the global partner of choice among top large apparel manufacturing companies. PCC offers a wide array of woven, knit and nonwoven interlinings, both fusible and sewn-in, enabled by the application of revolutionary new technologies.