Date: 1997/06/14
Top-of-the-range Cape Town clothing retailers Jenni Button and Aca Joe could soon open new stores in the world's fashion capitals of New York, Los Angeles or London, following a deal with Hilton Weiner and Vertigo stores.
Hilton Weiner spokesperson Marcel Joubert told Saturday Business that Jenni Button was set to open in North America and Europe early next year.
"We are talking to retail people who might partner us on those ventures," he said.
Hilton Weiner and Vertigo have acquired a 70% stake in Jenni Button and 100% of Aca Joe.
Mr Joubert declined to say how much the two acquisitions cost.
The four clothing retailers would form a company called Platinum Holdings, which would hold the shares of the four entities that make it up, he said.
"Each of the four companies will be run separately," Mr Joubert said.
Mr Joubert added that Aca Joe had registered its name in New Zealand and Australia, with a view to opening stores there at a later stage.
He added that the company did not plan to make any managerial changes to the Jenni Button or Aca Joe chains.
"We will re-energise both companies.
Jenni Button will have a strong focus on quality and service while extending its range to include a greater variety.
"Aca Joe will focus on expanding its casual branded products," he said.
Jenni Button, founded 11 years ago owns five stores in the country, two of which are based at the Waterfront.
Aca Joe has 10 company-owned stores and seven franchised outlets.
Founder Jenni Button said she was excited about the deal.
"When you look at what Marcel Joubert has done with Hilton Weiner, there is no doubt that the Jenni Button stores can only benefit from this deal," she said.
The negotiations on the sale with Hilton Weiner and Vertigo had been going on for only two weeks.
"I knew immediately that these were the people I would like to work with. They will inject fresh input into Jenni Button, and that's exactly what's needed in my company," she said.
Ms Button said the offshore stores would probably be opened next year.
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