Chargeurs Fashion Technologies, the worlds second-largest apparel interlinings manufacturer, today announced that it is acquiring Precision Custom Coatings (PCCs) interlinings.
The acquisition, the companys 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, Herms and Uniqlo.
Chargeurs also announced that Angela Chan, Managing Director and President of Charguers Fashion Technologies, will be responsible for overseeing the companys worldwide expansion. 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 entitys global sales strategy.
This acquisition is our most important to date and will be a game changer for our client base, said Michal 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.
Im thrilled to be leading Chargeurs Fashion Technologies as we write a new chapter in the companys 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 PCCs 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.
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.