Fila Luxembourg S.a.r.l. recently announced it has completed the purchase of Integrix Sports Group Ltd., ("ISGL") the master licensee of the Fila brand for Europe, the Middle East and Africa. Ares Capital Europe Ltd., the former majority owner, has retained a 25% interest in ISGL and will be providing new financing to the business.
Yoon Soo (Gene) Yoon, Chairman of Fila Korea, the parent company of Fila Luxembourg, led the purchase of the Fila brand in 2007 and has spent the last four years overseeing the successful restructuring of the business to a licensing model. Fila Korea went public in September 2010 in one of the most successful IPOs ever on the Korean Stock Exchange.
Mr. Yoon stated "Given the importance of this region, we made the decision to purchase ISGL and regain control of the brand in this territory. Ares fully recognizes the potential of the brand and we are delighted that they have decided to partner with us. We have engaged George Napier, former CEO of Prince and Benetton Sport System and former President of Wilson Sporting Goods, to help lead this transition."
Established in Italy in 1911, Fila is a leading manufacturer of sport and leisure footwear and apparel distributed worldwide. The internationally respected company, having gained world class recognition in tennis apparel, has developed brand recognition by marketing products with a high design and style content that are endorsed by professional athletes from around the world.