Wacoal Europe has sold the lingerie and swimwear brand Huit to French firm Trendy Capital, which owns nightwear brand Canat.
Under its new ownership, the brand will be called Huit France.
Wacoal Europe, which acquired the brand out of administration in 2010, said it has invested heavily to grow its distribution base, further develop its swimwear offering and improve its performance, but it resisted significant growth due to the “challenging and highly saturated competitor market”.
The firm has decided to sell the business as part of its strategy to focus on its European and international presence, strengthen its fuller bust business and continue growing the Wacoal brand.
Wacoal Europe will support the Huit business for the next two seasons to ensure a smooth transitions in all of its markets.
“This has been a difficult decision but we believe this is the best decision in the long term for our customers, the employees of Huit and the Huit brand,” said Wacoal Europe chief executive Geoff Embley.
“We are market leaders in our industry and have made every effort to grow and develop the brand. Importantly, we have taken every step we can to ensure the Huit business is protected and has a future.”
Wacoal offers lingerie and swimwear brands including Fantasie, Freya, Elomi, B Tempted and Goddess.
Source : drapersonline