Australian Group Pacific Brands is selling its footwear, apparel and sports equipment categories bundled under the umbrella of Brand Collective to various investors. Footwear and apparel goes to Australian investor Anchorage Capital Partners. The deal comprises, among others, the licenses of Clarks and Hush Puppies in the region.
The Dunlop and Slazenger brands for which Brand Collective has held licenses for Australia and New Zealand go to IBML, a business unit of Sports Direct International that owns the brands outside the Fifth Continent. The sports-related assets, including those of the Everlast brand go to Designworks, a unit of the Australian company The PAS Group. Apropos Everlast, Brand Collective licensed Everlast from IBML, an agreement which is now halted. The PAS group, in return, licenses the brands Everlast, Dunlop and Slazenger from IBML. It already holds such an agreement for Slazenger- and Everlast-branded apparel for the discount retail distribution channel in Australia.
Gross proceeds from the various deals are expected to be 39 million Australian dollars (€26.9 million). In its financial year 2013-14, ended June 30, Brand Collective was making a loss. Earnings before interests and taxes was negative at AUD 22.3 million (€15.4 million). Total sales were AUD 204.5 million (€141.1 million).