Here are some highlights of the Apparel, Accessories and Footwear Market Monitor published by Moss Adams Capital:
- Over the past year, public companies in the Aspirational sector of Apparel, Accessories and Footwear (“AAF”) have performed best, increasing 15% and outperforming the market. The Aspirational sector was led by Fifth & Pacific (+52%) and Michael Kors (+32%). Youth Lifestyle companies fared the worst over the past year, decreasing 12%, with Billabong (-73%), Skullcandy (-57%) and WeSC (-53%) leading the decline.
- U.S. middle market M&A transaction volume in Q4 2012, and for the full year 2012, grew a modest 3% from one year ago.
- Global AAF M&A activity declined 9% in 2012 from 2011, but the past three months saw some notable acquisitions by major corporate buyers. Key transactions include the acquisition of K-Swiss by E-Land (South Korea), the acquisition of J Brand by Fast Retailing (Japan), the acquisition of Warnaco by PVH, and two acquisitions by Iconix.
- Moss Adams Capital expects that strategic acquirers, and specifically Asian acquirers, will be more active in 2013 than in the past two-three years.
You can download the entire March 2013 report here. For any questions, please contact Rich Anderson.
