Something unusual happened last year.
For one thing, bucking a recent trend, M&A activity in the apparel, accessories, and footwear sector was down overall. And for another, strategic buyers–companies in the industry–curtailed their activity, ceding more of the playing field to financial buyers–chiefly private equity firms. This despite apparel companies’ record stock prices and the fact that they’re sitting on huge piles of cash.
What’s driving this trend? And what does it mean for 2014? In an article for Apparel magazine, Moss Adams Capital vice president Geoffrey Haydon offers his predictions.
Read more here.
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