Cluj-based underwear manufacturer Jolidon has bought Infiore, one of Italy's biggest brands, which owns a network of more than 100 stores of its own, of which Jolidon has purchased 65.
The two new brands, Infiore and Chiaro di Luna, became part of Jolidon's portfolio, after the acquisition of the Italian Infiore company, of the Infiore store network in Italy and of the controlling interests in Italian company Emmeci SpA.
"Thirty five of these stores will be integrated under the Jolidon brand, while the remainder will retain the Infiore brand. We will complete the takeover of the stores in March and open the first Jolidon store in Milan in one month's time at the least," Gabriel Cirlig, the company's owner told ZF Transilvania.
He added the deal would be both self-funded and paid for with money borrowed from banks.
Emmeci was established in 1963 and its underwear brands accounted for 14.4% of the market at the time of its acquisition.
This acquisition has helped Jolidon secure access to the most important cities in Italy. The company plans to open 4 self-branded stores in Milan, 3 in Rome and the rest (of the above-mentioned i.e. 35) in the other biggest urban centres of Italy.
The increase in the underwear maker's exports has led to significant investments outside Romania on the part of Jolidon.
Its officials confirmed the increase in the number of stores abroad, with the company totalling around 25 stores in France where it sells Jolidon-branded products exclusively, besides the network in Italy.
Gabriel Cirlig did not care to reveal the exact amount earmarked for the development of the company, but confirmed that Jolidon would indeed continue to expand its international store network.
Jolidon's international expansion began with the establishment of Jolidon Hungary KFT in Budapest in 2000 and continued with Joli
