Soma Group announces merger with CIA Hering

The Soma Group, owner of brands such as Farm and Animale, announced the merger with the Brazilian clothing brand Hering. The company, which is part of Texbrasil (Internationalization Program for the Brazilian Textile and Fashion Industry) – the result of a partnership between Abit (Brazilian Textile and Apparel Industry Association) and Apex-Brasil (Brazilian Trade and Investment Promotion Agency) – was valued at more than USD 967 million in cash and share deal.

With the new acquisition, the Soma Group becomes one of the five largest apparel companies in Brazil. They also own the Cris Barros, Maria Filó, Fábula, A.Brand, Foxton, Off Premium, and BYNV brands.

According to the companies, in an official announcement, one of the pillars of the operations will be the dissemination of a digital culture and the implementation of digital products from Soma Labs (the Group’s innovation arm) in all stages of Hering’s value chain.

With this, the retailer, which has a mainly physical operation, with more than 700 stores in Brazil and 20 abroad, gains a more robust digital operation.

Also according to the release, the Group should strengthen its supply chain, and increase its capacity for “verticalized production of some product lines of the Soma group’s current brands.

Brazilian tradition

The Hering family founded Hering in 1880, and it is one of the oldest companies in activity in Brazil. With a portfolio, that includes women’s, men’s, and children’s fashion, the brand has become a reference in the “basics”, betting on plain pieces, with neutral colors, ideas for all occasions and indispensable in any closet.

About Texbrasil

The Brazilian Textile and Fashion Industry Internationalization Program (Texbrasil) works with companies in the textile and clothing sector developing strategies to conquer the global market. Over 20 years, it has helped around 1600 brands to enter the export trail, generating USD 9 billion in business. The Program is carried out through a partnership between Abit and the Brazilian Trade and Investment Promotion Agency (Apex-Brasil).