Kids clothing firm in talks with UK group
Güncelleme Tarihi:
by Ayten Güvenkaya - Referans
Oluşturulma Tarihi: Şubat 16, 2009 00:00
ISTANBUL - One of the main founders of the MOL Mağazaları, which opened its first branch midnight on Jan. 17, continues to eye growth.
Wenice Kids, one of the 78 Turkish ready wear companies that founded MOL to fight against cheap textile products from China, has been holding talks with a major children’s clothing brand in the United Kingdom.
Talks between Wenice Kids and U.K.-based Adams Kids, which has a history of 76 years, began about two weeks ago and is about to be finalized.
If Wenice Kids manages to acquire Adams Kids, which has an annual turnover of 200 million euros, it is planning to relocate the British company’s production center from the Far East to Turkey. Acquiring Adams Kids would also enable Wenice Kids to sell its products at 281 Adams Kids stores scattered across the world. If an agreement is reached, then Wenice Kids’ products for ages 0 to 5 will be sold with Adams Kids tags, while products for ages 5 to12 will be sold with Wenice Kids tags.
Wenice Kids’ owner Kuşam Tekstil General Director Oktay Özdemir said Adam Kids, which was affected by the crisis and entered administration on Dec. 31, 2008, contacted Wenice Kids about two weeks ago.
"The rapid growth of Wenice Kids all around the world as well as its social responsibility projects must have grabbed the Adams Kids’ attention. A team came to analyze our efficiency," said Özdemir.
"Right now there are only two companies still talking to Adams Kids. The talks should be finalized in couple of days," said Özdemir.
By acquiring Adams Kids we will locate ourselves in the middle of the U.K.’s heart," he added. Adams Kids, which was founded by Amy Adams in Birmingham in 1933, had over 200 stores by the 1980s, and by the 1990s it had become a key player in the children’s wear market. The company opened its first international franchise in Saudi Arabia in 1997. Further international stores were then opened in Cyprus, Greece, Republic of Ireland, Finland, India and Slovakia.
Talks between Wenice Kids and U.K.-based Adams Kids, which has a history of 76 years, began about two weeks ago and is about to be finalized.
If Wenice Kids manages to acquire Adams Kids, which has an annual turnover of 200 million euros, it is planning to relocate the British company’s production center from the Far East to Turkey. Acquiring Adams Kids would also enable Wenice Kids to sell its products at 281 Adams Kids stores scattered across the world. If an agreement is reached, then Wenice Kids’ products for ages 0 to 5 will be sold with Adams Kids tags, while products for ages 5 to12 will be sold with Wenice Kids tags.
Wenice Kids’ owner Kuşam Tekstil General Director Oktay Özdemir said Adam Kids, which was affected by the crisis and entered administration on Dec. 31, 2008, contacted Wenice Kids about two weeks ago.
"The rapid growth of Wenice Kids all around the world as well as its social responsibility projects must have grabbed the Adams Kids’ attention. A team came to analyze our efficiency," said Özdemir.
"Right now there are only two companies still talking to Adams Kids. The talks should be finalized in couple of days," said Özdemir.
By acquiring Adams Kids we will locate ourselves in the middle of the U.K.’s heart," he added. Adams Kids, which was founded by Amy Adams in Birmingham in 1933, had over 200 stores by the 1980s, and by the 1990s it had become a key player in the children’s wear market. The company opened its first international franchise in Saudi Arabia in 1997. Further international stores were then opened in Cyprus, Greece, Republic of Ireland, Finland, India and Slovakia.