A series of changes in the business environment in the last six months led to the joint decision not to proceed with the planned acquisition of 100% of Axel Accessories' shares by Intrafashion Group, the group's sources told BnB Daily, following a joint announcement issued by the companies. Intrafashion Group had signed a binding agreement with Axel Accessories to acquire 100% of its shares in July 2024.

THE PLAN THAT REMAINED ON PAPER

Dimitris Matemtzis, President and CEO of the group, which operates in the market under the Pink Woman brand, had told BnB Daily last July that the group's plan to expand Axel would start with the wholesale channel as its main focus, both in the countries where Axel already has established distribution and by expanding into new target markets.  

Axel has a presence primarily in Italy, Spain and Portugal and the group's plans were to launch strategic partnerships with new markets, a move that began to be planned in the summer. That is, when the acquisition intention was announced.

ANNOUNCEMENTS

Yesterday, group sources stressed to BnB Daily that the company remains committed to its growth plans, either through acquisitions or expansions, and will make announcements soon. The same will be done with the financial results that reflect "the company's strong performance"

NEW STORES FOR PINK WOMAN

Pink Woman's network now exceeds 120 points and the next opening will be at Mediterranean Cosmos in Thessaloniki. At the same time, it will also announce the opening of new flagship stores across Greece in the near future.