Alceon acquires majority stake in ethical fashion brand
Alceon Group has added another brand to its growing portfolio of retail investments through a new partnership with ethical fashion brand Ginger & Smart.
The investment firm on Tuesday announced it is taking a majority position in the new entity, ARG (Alceon Retail Group) Ginger & Smart, with the goal of growing the brand’s local retail and digital presence, and assisting with its international expansion.
“This is a strategic move to continue to diversify our portfolio and invest in highly desirable retail brands,” Richard Facioni, executive director of Alceon, said in a statement about the partnership.
“We plan to grow the business, both online and through physical stores. Alexandra and Genevieve [Smart] bring notable management and design calibre and we look forward to working together to build a great future for this brand.”
Sisters and Ginger & Smart co-founders Alexandra and Genevieve Smart will remain as managing director and creative director of the brand, while Alceon will contribute its expertise in retail, logistics, production and e-commerce.
“We are very fortunate to have a shared vision with Alceon for the bright future of Ginger & Smart. Our primary focus is upon our discerning customer who values quality, beauty and longevity,” Alexandra, managing director of Ginger & Smart, said in a statement.
This marks the latest in a string of acquisitions in the apparel sector from Alceon Group in recent years. The company’s portfolio now includes Noni B, Specialty Fashion Group’s Katies, Millers, Autograph, Crossroads and Rivers brands, EziBuy and SurfStitch, among others.
Ginger & Smart differs from Alceon’s existing apparel investments. The brand is known for its luxury contemporary design aesthetic, and is committed to sourcing and choosing fabrics that are recyclable and biodegradable, where possible.
Ginger & Smart currently has three standalone stores in Australia and is sold through David Jones, The Iconic and a number of retail boutiques around Australia.
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