Mexx: Difference between revisions
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=== Bankruptcy === |
=== Bankruptcy === |
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[[File:MexxHillcrestMall.JPG|thumb|Mexx store closing sale in Feb 2015.]] |
[[File:MexxHillcrestMall.JPG|thumb|Mexx store closing sale in Feb 2015. This location is in [[Hillcrest Mall]].]] |
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On December 4, 2014, three holding companies of Mexx were declared bankrupt by the district court of Amsterdam.<ref>{{cite web|url=http://nos.nl/artikel/2007203-modeketen-mexx-failliet-verklaard.html |title=Modeketen Mexx failliet verklaard |publisher=Nos.nl |date= |accessdate=2015-02-25}}</ref> On December 5, 2014, a judge in the Netherlands declared 315 Mexx stores, which serves worldwide including 95 Locations in Canada, bankrupt. The stores are expected to remain open while the chain sells off merchandise. |
On December 4, 2014, three holding companies of Mexx were declared bankrupt by the district court of Amsterdam.<ref>{{cite web|url=http://nos.nl/artikel/2007203-modeketen-mexx-failliet-verklaard.html |title=Modeketen Mexx failliet verklaard |publisher=Nos.nl |date= |accessdate=2015-02-25}}</ref> On December 5, 2014, a judge in the Netherlands declared 315 Mexx stores, which serves worldwide including 95 Locations in Canada, bankrupt. The stores are expected to remain open while the chain sells off merchandise. |
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Revision as of 17:17, 1 March 2015
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| File:Mexx logo.png | |
| Company type | Private |
|---|---|
| Industry | Fashion |
| Founded | Netherlands (1986) |
| Defunct | 2014 |
| Headquarters | , |
Number of locations | 315 (2014) |
Area served | Worldwide |
| Products | Clothing Accessories Perfumes Linen |
| Owner | Eroğlu Holding |
Number of employees | 6000 (2012)[1] |
| Website | mexx.com |
Mexx was an international fashion company that designed clothes and accessories for men, women and children.
History
In the 1970s, fashion designer Rattan Chadha and his business partners PK Sen Sharma, Adu Advaney, Suveer Arora, Ronny Lemmens, Horatio Ho and Arun Mehta (known as the Founders of the company) supplied clothes for department and wholesale stores in the Netherlands, which were specifically designed and labelled for the stores. Revamping the business in 1980, they created two popular clothing brands—"Moustache" for men and "Emanuelle" for women. Both labels had coordinated collections focused on lifestyle and youth fashion. In 1986, the two brand names were merged to form: M (from Moustache) + E (from Emanuelle) + XX (an abbreviation for "kiss kiss") to create MEXX.[3]
Over time, Mexx has grown to become an international brand with over 800 stores in 55 countries and more than 10,000 point of sales. It has grown rapidly and is now an internationally prominent company, employing over 6,000 people worldwide.[3]
In 2001, Mexx was bought by the U.S. fashion company Liz Claiborne for $264 million and an Earn out which amounted to another $275 Million.[4] Thus, for many years it belonged to the Liz Claiborne group—a multi-brand business listed on the New York stock exchange that markets fashion, design, accessories and perfume internationally.[5] In 2011, Liz Claiborne, as part of a restructuring, sold Mexx to private equity firm The Gores Group at a loss but retained a minority interest in the Mexx chain of stores.[6]
Bankruptcy
On December 4, 2014, three holding companies of Mexx were declared bankrupt by the district court of Amsterdam.[7] On December 5, 2014, a judge in the Netherlands declared 315 Mexx stores, which serves worldwide including 95 Locations in Canada, bankrupt. The stores are expected to remain open while the chain sells off merchandise.
Product palette
Mexx did not just offer contemporary fashion but also diverse lifestyle products. Besides Mexx fashion for men, women and children, Mexx products ranged from shoes to accessories, such as bags and scarves, to fragrances, glasses, carpets and bed linen.
International business
The company’s collections and accessories were sold in over 300 own retail stores, famous department stores, chain stores, specialist stores and nearly 300 franchise stores.
Mexx was available in the following countries:
Azerbaijan, Armenia, Austria, Bahrain, Belgium, Belarus, Bosnia-Herzegovina, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Great Britain, Greece, Guatemala, Hong Kong, Hungary, Indonesia, Ireland, Iceland, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Latvia, Lebanon, Lithuania, Luxembourg, Macedonia, Malta, Mexico, Moldova, Mongolia, Norway, Netherlands, Oman, Philippines, Poland, Portugal, Qatar, Russia, Saudi Arabia, Serbia, Slovakia, Slovenia, Spain, Switzerland, Sweden, Taiwan, Tajikistan, Turkey, Ukraine, United Arab Emirates, United States.
References
- ^ [1] [dead link]
- ^ "Mexx goes bankrupt, affecting 95 Canadian stores - Business - CBC News". Cbc.ca. 2014-12-05. Retrieved 2015-02-25.
- ^ a b [2] [dead link]
- ^ "Liz Claiborne Agrees to Buy Mexx Group For $264 Million and 'Earnout Payment ( $ 275 Million )". Wall Street Journal. 2001-05-17. Retrieved 2008-05-06.
- ^ "Our Brands". Liz Claiborne. 2008. Retrieved 2008-05-06.
- ^ "Private Equity Deals". PrivCo. Retrieved 2015-02-25.
- ^ "Modeketen Mexx failliet verklaard". Nos.nl. Retrieved 2015-02-25.
External links
