IB Group acquires Mexican distribution for Chico’s
today Jul 11, 2018
IB Group and Fashion Depot, two Mexican companies specialised in the marketing and distribution of fashion collections on behalf of leading brands, announced on Tuesday the acquisition of distribution rights for womenswear brand Chico’s in Mexico.
As part of the agreement, the Mexican companies will be responsible for the distribution, marketing and development of Chico’s across Mexico, FashionNetwork.com can reveal.
“Our commercial strategy is focused on maintaining our existing stores and partnerships while opening five more locations during this year, as well as two further stores planned for 2019,” Patricio Ibarra, CEO of Fashion Group, said.
Chico’s arrived in Mexico in 2014, where it explored new opportunities with a tie-up with local department store chain Liverpool. Four years later, the brand has seven stores and 50 concessions in the country, as well as 20 concession stores for its lingerie brand Soma in Liverpool branches.
Chico’s, whose folk-inspired clothing, accessories and jewellery are primarily aimed at women in their mid-thirties, produces four clothing collections per year, as well as transitional and capsule collections dictated by fashion trends and consumer needs.
The business was founded in 1983 in Sanibel Island, Florida and currently has more than 23,700 employees and over 600 boutiques in the United States, including international franchise partners, email blast and e-commerce.
Meanwhile, Fashion Depot is part of IB Group and has offices in Mexico and Hong Kong. The company manages the distribution, design and marketing of brands and licenses including Gymboree, Capelli, Mad Love by Steve Madden, Portobello by Pepe Jeans, London Fog, Aeropostale footwear and Champion.
With ten years of experience, Fashion Group sells high quality fashion in Mexico, Latin America and the US in leading department stores and over 2,000 sites.
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