Japanese apparel firm Stripe International has finalised its second merger and acquisition in Vietnam in 2 years.
The clothing group has bought Vietnam’s well-known fashion retailer Global Fashion that also owns Vascara – the famous women’s accessory brand.
This was announced by Global Fashion earlier this week though it did not disclose the value of the deal.
Hailing Vascara as the brand that has huge scope for development, Harigae Tsutomy, General Director and CEO, Stripe Saigon, said “Stripe International, with its immense experience and technology, will help developing the brand, expanding its stores and serving millions of customers in Vietnam.”
And Stripe has some more for Vascara!
The firm intends making changes to brand recognition and store model of Vascara. “Both the firms are working on exporting the Vascara’s products to Japan and bringing Stripe merchandise to Vascara’s customers in Vietnam,” said Le Canh Bich Hanh, CEO, Global Fashion.
Global Fashion has now, after the deal, shifted all its 134 Vascara outlets across Vietnam to Stripe International.