Elegant has become Lever Style’s first acquisition since 2021, following a brief hiatus during the post-Covid economic rebound. Credit: Shutterstock.

Lever Style says its acquisition of Elegant, which specialises in supply chain solutions, particularly within the outdoor and activewear segments, will augment its outdoor apparel capabilities as well as add Bangladesh to its global supply chain offering.

Elegant is Lever Style’s first acquisition since 2021, following a brief hiatus during the post-Covid economic rebound and its sixth acquisition since its IPO in 2019. It comes hot on the heels of Lever Style’s 64% growth in 2021 and 51% growth in 2022.

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Lever Style’s executive chairman Stanley Szeto explains: “Our strategy is to grow organically during strong economic times, and acquire fellow manufacturers, transforming them into our asset-light platform business model during challenging times.”

Lever Style aggregates smaller apparel supply chain companies that will benefit from Lever Style’s scale, progressive management, platform business model, and financial strength.

The company explains that increasing scale gives it more options and resources to better service its existing and newly acquired customers.

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Lever Style says it has already established itself as an apparel production partner for a wide variety of apparel brands, including outdoor specialists Arcteryx, designer fashion brands Paul Smith and Armani, and premium fashion brands Hugo Boss and Theory, as well as digitally-native brands and platforms Bonobos and Stitch Fix.

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Lever Style explains that Elegant has a track record of serving outdoor brands such as Mammut, Jack Wolfskin, Red Bull, and Beretta.

In June, Lever Style’s executive chairman Stanley Szeto and chief operating officer William Tan shared their tricks for outperforming the struggling fashion market in 2023.

In 2020, a subsidiary of Lever Style Corp entered into a sale and purchase agreement to acquire certain assets of Hong Kong knitwear manufacturer Vista Apparels.