Grupo AXO, a firm that distributes brands such as Tommy Hilfiger and Nike in Mexico, entered into an agreement to acquire the e-commerce company Privalia, in an operation still subject to to the approval by the Federal Economic Competition Commission (Cofece).
"If the aforementioned conditions are met, Grupo Axo, directly or indirectly, will own all the shares representing the capital stock of Privalia México," the company said in a statement. communicated to the Mexican Stock Exchange (BMV).
The group represents clothing brands such as Abercrombie & Fitch, Arrow, Bath & Body Works, Bass, Brooks Brothers, Brunello Cucinelli, Calvin Klein, Chaps, Coach, Crate & Barrel, Express, Guess, Hollister, Izod, Kate Spade, Loft, Nike, Olga, Rhapsody, Speedo, Taf, True Kids, Tommy Hilfiger, Van Heusen, Victoria's Secret, Warner's and Promoda.
Privalia specializes in online sales of clothing, footwear, accessories, products for the home and decoration, furniture and household appliances with discounts.
Grupo Axo did not give details of the amount of this purchase. At the end of last March, Axo had 4,836 points of sale in department stores and 741 boutiques in Mexico and Chile.
The representative of clothing brands issued 2,000 million pesos of stock certificates on the BMV, which it used to make an early amortization of other bonds, it said on May 24.
