Intrafashion, owner of the brand Pink Woman, and Axel Accessories announce the signing of a binding agreement for the acquisition of 100% of Axel's shares by Intrafashion following the successful completion of a due diligence process that is already in full swing.

According to Dimitris Matemtzis, the President and CEO of Intrafashion, "Axel is a leading Greek accessory company of its kind, with widespread recognition and long-standing consumer acceptance. With our strategic development plans in mind, we aim to invest, with the help of Mr. Lagoumakis and Mr. Iph. Koutsouvelis, who are the historical basis and driving force of the brand, in the strong consolidation and development of Axel in both the Greek and international markets, with the main focus on the wholesale channel. I am convinced that the strong structure of the Intrafashion Group, in cooperation with the talented potential of Axel, will produce significant synergies that will drive market share and sales growth, as well as remarkable business profitability indicators, very soon.".

Kostas Lagoumakis, CEO of Axel, commented, "This is a great moment for Axel. Our joint decision with D. Matemtzis and Intrafashion, a leading retailer in the industry, will be a successful synergy in the area where our businesses operate. We would like to inform consumers and partners in Greece and abroad that AXEL will soon become dominant in the field of women's accessories. Both I and I. Koutsouveli will continue to be present throughout the development of this effort.".