The Dutch companies HVEG Fashion Group and RNF Group are joining forces. The companies announced this at the beginning of October. The RNF Group, which is best known for the Mexx brand but also for the licenses to brands such as Umbro and Pantofola d’Oro, is to be taken over by the HVEG Fashion Group. In addition to private labels, the HVEG Fashion Group also includes brands such as Magic Bodyfashion, Sassa, Bamboo Basics and Brams Paris in its portfolio.
According to the HVEG Fashion Group, the procedure only needs to be approved by the Authority Consumer & Market (ACM). RNF founders Ferry Helmer and Ron Janssen will remain as shareholders and members of the board of directors even after the takeover. After the takeover, sales of 285 million euros are expected for 2024 and 530 employees will be employed.
“With this merger, we are fulfilling HVEG’s growth strategy and our goal of creating a one-stop shop for a growing international customer base,” says Mike van Snek, CEO of HVEG Fashion Group. “RNF is known as a leading player in the European footwear market and the Mexx brand enjoys global recognition. The products, brands and licenses carried by RNF are highly complementary to those of HVEG, serving similar markets in Western and Eastern Europe. The merger of the two companies will significantly strengthen our offering to customers. We also see many opportunities to further develop the Mexx brand in the coming years.”
The founders Ferry Helmer and Ron Janssen are also confident about the takeover: “We see the merger with HVEG as a logical step in our growth plans. We start from a very similar DNA, which makes us even more determined to achieve our goals. Pooling our strengths will enable us to expand the iconic Mexx brand together.”
