Global garment maker Hi-Tech Apparel acquires UK scaleup Unmade in expansion drive

Global garment maker Hi-Tech Apparel acquires UK scaleup Unmade in expansion drive

Published: 10-07-2024 12:59:00 | By: Pie Kamau | hits: 858 | Tags:

Unmade, a software company that enables sportswear brands such as New Balance and Decathlon and fashion brands such as Ralph Lauren to offer customised clothing on-demand, has been acquired by garment manufacturing leader Hi-Tech Apparel.

Founded in 2014 by Hal Watts, Kirsty Emery-Laws and Ben Alun-Jones, the award-winning tech company had raised a combined £15 million from Octopus Ventures, Felix Capital, MMC Ventures, Local Globe, Connect Ventures, Backed VC, Carmen Busquets, and C4 Ventures.

Decathlon, the world’s largest sportswear retailer, will remain a shareholder following the deal, with Unmade retaining the autonomy to work with any brand or manufacturer. The deal, valuing the company at 10x revenue, offers Hi-Tech Apparel, the Thailand-based conglomerate and supplier to some of the world’s biggest sports brands, a huge opportunity to build a digital-first, globally distributed manufacturing model to meet customer demand.

Unmade’s UK-based team, led by CEO Hal Watts and COO Simon Rea, will remain with the business to further develop the industry’s leading digital solution for personalised and customised apparel, boosted by a significant cash injection to propel growth with a series of new hires.

The deal builds on two years of partnership between Unmade and Hi-Tech during which they have successfully delivered custom apparel to teams all the way from amateur clubs to professional athletes and everything in between.

The acquisition will combine Hi-Tech’s manufacturing and logistics expertise with Unmade’s technologies to create a market leading solution for brands and retailers looking for a better approach to teamwear and customisation. Unmade’s team will also have access to Hi-Tech Apparel’s significant resources, expertise and customer base. More than 30 years’ old and with 14,000 employees across Thailand, Cambodia, Vietnam, Laos, while expanding its manufacturing capability in Egypt, Hi-Tech Apparel generates over $300m in annual sales and shares Unmade’s vision to automate the manufacturing process.

Unmade’s technology enables brands to turn designs into manufacturing ready data, lowering minimum order quantities, reducing waste, and boosting manufacturers’ responsiveness. For brands, this on-demand apparel approach increases flexibility and helps them meet Sustainable Development Goals and corporate social responsibility targets.

hi-group.com
www.unmade.com

 

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