Marchpole to extend license agreements with Emanuel Ungaro
20 Aug '05
6 min read
Men's apparel business firm Marchpole presented the Update on acquisition of Moda America LLC (“Moda”) and extension of licence agreements with Emanuel Ungaro S.A.
Further to Marchpole's previous announcement regarding the heads of terms agreement to acquire Moda America LLC (“Moda”) and due to changes in the listing rules which became effective in July 2005, the shareholders of the Company will not need to vote on the transaction since it falls below the Class 1 requirements.
A circular will not therefore be required, nor will the Company need to hold an Extraordinary General Meeting This acquisition will:
- Enable the launch of the Emanuel Ungaro and Ungaro collections in the USA, Canada and South America
- Facilitate the launch of the JCC collections in these new territories - Add Moda turnover with effect from 1 January 2006 (2005 forecast US$26.0 million) - Give Marchpole worldwide reach with Moda infrastructure - Extend Moda's existing Emanuel Ungaro licence and distribution rights to include womenswear - Launch the diffusion Emanuel collection in the UK and Eire from Spring Summer 2007
The company is also pleased to announce that as well as this acquisition, terms have also been agreed with Emanuel Ungaro S.A. to extend the existing agreements for the Emanuel Ungaro and Ungaro collections covering the European and Far East markets to include the important US market from Autumn Winter 2006.
In addition to the licence extension, agreement has been reached with Emanuel Ungaro S.A. for the distribution rights for the US market for all womenswear collections of Emanuel Ungaro, including the designer ready to wear collection, and the diffusion collections under the Ungaro Fuchsia and Ungaro Fever labels, subject to agreement with the relevant licensees.
marketing@alchempro.com
