Wacoal, Descente Form Comprehensive Biz Tie-Up
Kyoto, Aug. 30 (Jiji Press)--Wacoal Holdings Corp. <3591> and Descente Ltd. <8114> said Thursday that they have formed a comprehensive business tie-up, including the creation of new brands and businesses, and the promotion of overseas operations.
The partnership is aimed at responding to growing health consciousness among consumers, capitalizing on Wacoal's strength in innerwear for women and Descente's prowess in sportswear.
At a press conference in the western Japan city of Kyoto, Wacoal President Hironobu Yasuhara said, "We intend to create synergies worth tens of billions of yen (through the partnership) in the future."
He said that the two Japanese companies are not considering the possibility of a capital tie-up or business integration at the moment.
"We can create a lot of benefits by working together," Descente President Masatoshi Ishimoto told the same press conference.
[Copyright The Jiji Press, Ltd.]