(Filed Under Financial and General Interest News). Hop Lun, the Hong Kong-based intimate apparel firm, is selling a controlling stake to Platinum Equity, an investment firm with a portfolio of companies in a wide variety of different industries.
Founded in 1992 by Erik Ryd, Hop Lun operates a large private label lingerie and swim business, and owns such brands as 6ixty 8ight, Scandale, Marie Meili and Dorina. The latter label was launched by Triumph in 1968 and acquired by Hop Lun at the start of 2016.
According to the announcement, Hop Lun currently “employs more than 30,000 people and has manufacturing operations in Bangladesh, China, Ethiopia and Indonesia. The company produces products for many of the world’s largest global retailers as well as for its own in-house brands,” and considers itself “a top provider of bra solutions in the US, UK and EU.”
Sale price was not announced, but Platinum noted “Mr. Ryd will retain a significant stake in Hop Lun and will continue to help lead the business going forward.” The transaction is “expected to be completed during the third quarter of 2022.”
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