Commenting on the acquisition, Ludwig Kuttner, Hampshire's Chairman and Chief Executive Officer, stated, 'They intend to be wherever their consumer shops.
Shane-Hunter's longstanding reputation of providing fashion right product at a great value to discerning customers represents a significant opportunity for Hampshire to enhance its existing mass-market distribution channels.
As the market share of mass-market retailers has grown significantly in recent years, they have come to represent a market opportunity deserving of increased attention.
In keeping with their diversification and expansion strategy, they are pleased to expand their product line into the juniors' market on a significant scale, which they believe will provide Hampshire with extended customer reach and sourcing efficiencies.'
Hampshire Group Limited is a diversified apparel company, believed to be the largest supplier of women's and men's sweaters in North America and a leading supplier of women's related separates.
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