Moss Adams recently published its Apparel Market Monitor. Highlights from the report include:
• Public apparel, accessories and footwear (“AAF”) companies are now trading at 12.6x EBITDA, near their highest multiples in at least seven years. Diversified, Aspirational and Performance companies continue to outperform the market, while Youth Lifestyle brands continue to underperform.
• Overall Global M&A transaction volume in the AAF sector was down 12% in 2013, though private equity activity was up strongly from the prior year. We expect 2014 to be a much better year overall for transaction activity, with strategic acquirers becoming much more active.
• Notable recent transactions include the acquisitions of Jones Group by Sycamore Partners, Canada Goose by Bain Capital, Lucky Brand by Leonard Green & Partners and Allen Edmonds by Brentwood. Associates
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