CANADA: La Senza Sells Wet Seal Stake
Montreal-based retailer La Senza Corp is selling its shares in US clothing retailer The Wet Seal Inc in order to focus on its lingerie business.
The company on Friday said its board of directors had authorised the sale of its 3.123 million Wet Seal shares.
Irving Teitelbaum, chairman and chief executive officer of the company, said the sale "will complete La Senza Corporation's strategic transformation process into a pure play as an international lingerie retailer; will provide additional capital for its dynamic expansion; and will result in the abandonment of the equity pick up of the Wet Seal operating results in La Senza Corporation's financial statements."
Help test our new apparel sourcing tool.
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- Hard hit Turkish industry is not knocked out
- Trade Tracker – Trump's first weeks, Brexit agenda
- VF Corp sees Q4 and FY earnings tumble
- US Q4 in brief – Macy's, Walmart, VF Corp
- Adidas and Burberry recognised for sustainability
- Bangladesh "high threat" for terrorist activity
- Bangladesh crackdown has cost garment sector $100m
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar