Elegant Team Development, a Hong Kong-based supply chain solutions provider with expertise in outdoor and activewear, was acquired by Lever Style, the apparel production platform also headquartered in Hong Kong.
According to a press release, Elegant Team’s customers include Mammut, Jack Wolfskin, Red Bull, and Beretta, while Lever Style clients include Arc’teryx, Haglofs, Helly Hansen, Paul Smith, Armani, Hugo Boss, Theory, Aime Leon Dore, Todd Snyder, Spanx, Vuori, Bonobos, and Stitch Fix.
Reportedly, the acquisition will enhance Lever Style’s outdoor and active apparel capabilities with broader and more versatile service. Elegant also has production capabilities in Bangladesh, expanding options for Lever Style’s clients.
Lever Style has production hubs in China, Vietnam, India, Indonesia, and Cambodia.
Elegant Tean is Lever Style’s first acquisition since 2021 and the sixth since its IPO in 2019, with its focus on aggregating smaller apparel supply chain entities.
Stanley Szeto, executive chairman of Lever Style, said, “Our strategy is to grow organically during strong economic times and acquire fellow manufacturers and transform them into our asset-light platform business model during challenging times.”
