Pacific Brands is in the middle of selling its shoes and licensed brands division Brand Collective so it can concentrate on its growing Bonds underwear and Sheridan sheets brands.
The company confirmed today it is discussing a potential sale of its Brand Collective business.
The Brand Collective, which is responsible for 15.5% of the group’s sales, includes clothing Superdry and Mossimo, plus shoes Volley, Hush Puppies, Julius Marlow, Clarks and Grosby.
Pacific Brands did not name the prospective buyer but the Australian Financial Review reported the company is in late stage talks with with a handful of buyers including private equity firms and other trade parties.
Pacific Brands in August agreed to sell its work wear division to Wesfarmers for $180 million after posting a $224.5 million full year loss.
Sales were up 3.8% to $1.322 billion for the year to June 30 with Bonds underwear up 19.9% and Sheridan sheets up 15.6%.