Bain Capital Expands Fashion Portfolio with Acquisition of South Korea’s Echo Marketing

Bain Capital adds to its fashion portfolio. The investment fund has taken a 43.66% stake in South Korea’s Echo Marketing, owner of local sportswear brand Andar, for 216 billion won ($149 million), according to Reuters.

At the same time, the U.S. investment firm has launched a takeover bid for the remaining approximately 56.4% of Echo Marketing, at a price of 16,000 won ($11) per share. This would result in a transaction valued at $243.9 million.

Bain Capital has stakes in several fashion companies such as Canada Goose, in which it has been a shareholder since 2013, and which it took full control years later. Bain Capital is now looking to sell the luxury goods manufacturer, which has a valuation of $1.4 billion.

Bain Capital has launched a takeover bid for the remaining ownership of Echo Marketing

In Spain, Bain Capital also owns, together with other partners, the Pronovias bridal fashion group. In Japan, it has a majority stake in the fashion conglomerate Mash Holdings. It also owns 50% of the U.S. footwear company Toms, among others.

Andar, meanwhile, has become popular in Korea and other Asian markets, where it has an online presence as well as physical stores. This year, the company launched a premium line called Stretch Your Story, especially intended for the U.S. market. It was acquired by Echo Marketing in 2021, at a time when the company was struggling financially.

Bain Capital has more than 300 companies in its asset portfolio, including food companies Burger King, Domino’s Pizza and Dunkin’ Donuts, but also Surgery Partners, a healthcare company, Samsonite, a luggage company, and Mattel, a toy company.

Bain Capital was launched in 1984 in Boston by U.S. Republican politician Mitt Romney and other partners of the consulting firm Bain & Company as a private equity investment advisory firm. Gradually, the fund expanded its business to invest in all asset classes.