Alliance buys brand of clothing chain to create new clothing division, reports say
Alliance has announced a deal with Gildan, the retail giant that has owned Koyal and other brands for decades.
The brand will be renamed Alliance and will be led by former Gildans chief executive, Peter Boulton, who is currently CEO of the retailer’s Irish unit.
It will be part of the Alliance group, which has already acquired clothing brands from Bottega Veneta and Adidas.
The company is the world’s largest independent retail chain.
Gildan is owned by UnitedHealth Group, which also owns Bottegas.
In a statement, Alliance said the new brand will focus on the “high-quality, affordable, sustainable and sustainable-to-fit clothing category” and will “continue to evolve with the changing needs of the consumer”.
In a bid to “immediately improve customer service and enhance customer experience”, the Alliance Group said the “franchise will be a global leader in retail for men, women and children”.
The new brand is expected to be unveiled this week, although the name is likely to be used until 2019, when the Alliance brand will continue to be called Alliance.
The Alliance Group has struggled in recent years to stay afloat and to attract new customers.
Its retail operations were taken over by Alliance in 2008, and it has struggled to generate much of a return on its investments.
In 2014, it was sold to a group of private equity firms, which later sold it to UnitedHealth.