Descente acquires majority share in inov-8
In an exciting move for GlobalSportsJobs partner inov-8, Japanese sportswear maker Descente has acquired a majority share in the company with the purchase of 80% of inov-8 Group.
Descente has been the distributor of inov-8 shoes in Japan, Korea and Hong Kong since 2013 and this acquisition now brings another innovative and athlete-led brand into the Descente Group.
“I am delighted to welcome inov-8 into the Descente Group of Companies”, Descente President Masatoshi Ishimoto, said.
“Through this significant acquisition, I believe we can give full play to the strengths of both Descente and inov-8 - helping inov-8 to further develop and expand its global operations, and in doing so, ensuring the future growth of the Group’s overall shoe business, which is a key objective of current management planning”, Mr Ishimoto said. By assimilating inov-8’s impressive research and development capabilities we create many exciting new possibilities for product development within the group”.
inov-8 CEO Gordon Baird said: “This alliance signals an exciting new phase in inov-8’s development following a number of years of sustained growth with our current investors, Livingbridge. The expertise and experience provided by Descente will enhance our ability to release the full potential of the brand. Both companies share a philosophy based on providing athletes with the most innovative and performance enhancing products, and a desire to develop this globally and sustainably”.
Mr Baird said inov-8’s Management was delighted to be joining forces with Descente, and looked forward to working with the Descente team to maximise the potential of the enlarged organisation.
Descente is a leading Japanese sportswear maker with an 80-year history of craftsmanship and technological excellence. Descente brand skiwear is distributed in Europe and North America and year-round Descente sportswear is marketed in Japan and elsewhere in Asia by subsidiaries in Korea, China, Hong Kong and Singapore. Currently Descente has a portfolio of 16 in-house, purchased and licensed brands.
inov-8 is a leading all terrain footwear, apparel and equipment brand founded in 2003 by Wayne Edy who, as a shareholder, continues in his key role as innovator.
The business has enjoyed consistent double-digit growth operating in the off-road, performance training and road categories. Its focus is on high quality and performance products, operating in 62 countries across the globe.
The success of the company has been acknowledged in recent years, achieving an impressive array of awards including the Queens Award for Export, the Sunday Times Fast Track 100, the Red Dot Award: Product Design and numerous other outdoor industry honours.
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Date published: 10 August 2015