Mexx’s owner considers IPO

The new owner of Dutch fashion chain Mexx is considering a possible stock exchange launch for the group within three to five years time, the Financieele Dagblad reports on Tuesday.

US private equity house Gores Group bought 81% of Mexx from the Liz Claiborne group for some $85m last November.
‘Our aim is to have turned around Mexx within three to five years and then sell it,’ Gores’ managing director Lee Bird III said in an interview with the paper. ‘We hope for an IPO but I expect strategic buyers as well. That gives us lots of opportunities.’
Bird is currently chairman of the Amsterdam-based company following the surprise departure of Thomas Grote at the beginning of this month.
Mexx has been loss-making for several years but Bird hopes to turn a profit in 2013. Some 100 shops are to be closed, including the branch on Amsterdam’s fashionable PC Hooftstraat.
New shops will also be opened, including in China.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation