Pittards acquires luxury bag label Hill & Friends, Emma Hill to be consultant
Leather materials and leathergoods specialist Pittards said in early August that it has acquired the brand and assets of Hill & Friends Limited, the contemporary luxury bag brand founded by Emma Hill and Georgia Fendley, based in London. The purchase price wasn't disclosed.
The acquisition enables Pittards to further build its growing portfolio of owned brands, “bringing with it a distinctive aesthetic, proven pedigree, and a loyal customer base whilst also offering the potential for material international growth”.
Founded in 2015, Hill & Friends created a range of on-trend luxury handbags and accessories. Pittards said that co-Founder Emma Hill — the former creative director of Mulberry — has an “ethos of believing in fair trade and ethical practices [that] conforms with Pittards’ own long-term strategy to drive sustainable growth, and will provide operational and creative efficiencies with [our] existing fashion brands”.
Hill is also joining the new parent company of her brand as a consultant.
Pittards CEO Reg Hankey, said: “Maintaining our strong balance sheet, this acquisition has been financed entirely from the company's existing liquidity. This complementary acquisition represents a compelling opportunity to further scale our offering, building on our success with our luxury gentlemen's brand Daines and Hathaway. We are excited to be working with Emma to increase the breadth of our fashion industry offering whilst at the same time, driving further synergy benefits and unlocking shareholder value through increased scale.”
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