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De Vere Investments Acquires Meccano Clothing Company
De Vere Investments Acquires Meccano Clothing Company
De Vere Investments, parent company of successful womenswear label RUBY, has added another feather to its cap with the acquisition of New Zealand menswear brand Meccano.
The purchase, effective March 30th 2016, saw the increase of family-owned company De Vere’s staff numbers to more than 130, with 25 retail outlets across New Zealand.
The two companies have a well-established working relationship of over ten years, making for a seamless transition into new ownership for Meccano staff and customers.
Staff will remain at Meccano’s 15 outlets across New Zealand, while the company’s head office will relocate to an Auckland space, where they will work alongside the De Vere and RUBY teams.
Founded in 1993 by Dai & Cheryl Endicott-Davies, Meccano’s first store opened at Centre Place mall in Hamilton.
The retail chain now has 15 stores spanning from Auckland to Dunedin, which will continue to operate under the new ownership.
Meccano’s former owners said they were pleased the business remained in the hands of a family owned New Zealand company.
“Meccano has worked with De Vere as a trusted supplier for more than 10 years, so we believe that the business is in safe hands.”
De Vere Investments’ Managing Director Vere Sharma said he looked forward to building the Meccano brand.
“We’re committed to evolving and strengthening Meccano and ensuring it remains relevant and competitive in today’s market.
“Though it’s a challenging and dynamic time for the retail industry, with the growth of online sales and increased competition from New Zealand and offshore, we believe that if you do something with passion and focus it will succeed.”
De Vere’s integrated business model means the company has an understanding of all elements of the ever-evolving fashion space - from production to retail - built on decades of experience in the industry.
The company’s acquisition of RUBY in 2008 saw the label grow from a streetwear brand with four stores, to one of New Zealand’s most exciting womenswear designers, with 10 outlets nationwide.
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