Quantum Clothing acquired by ItochuMonday, 09 July 2012
Marks & Spencer supplier Quantum Clothing Group,
which specialises in menswear, lingerie, hosiery and intimate apparel, has been acquired by Japanese trader Itochu Corp for an undisclosed sum.
Quantum Clothing Group will continue to be run out of the UK and Itochu supplier Prominent Europe’s chairman and chief executive Nigel Lugg will become chairman and group chief executive. The rest of the existing management team will remain in place.
The acquisition adds to Itochu’s existing production businesses, which include the manufacturing of menswear, womenswear, lingerie and sportswear.
"We are delighted to be able to welcome Quantum to the group. It further strengthens our links with Marks & Spencer, and will give us access to Quantum's world class manufacturing units," said Lugg.
Quantum Clothing has factories in Sri Lanka, India and Cambodia.