Prym Fashion, a German global fashion and apparel-accessory supplier founded in 1530 (it’s the oldest family owned business in Germany), recently announced the acquisition of New York-based Sher Plastics, a proven leader in button and trim manufacturing since 1942. The newly acquired entity will be named Prym Fashion Americas, but will continue to do business as Sher Plastics.
Despite a slight overlap in products, customers and geography, the acquisition will provide Prym Fashion with a base of operations to grow among US-based apparel brands and retailers.
The German group is also keen on offering L.I.F.E., a newborn selection of sustainable accessories.
Brian Moore, CEO, Prym Fashion, explains the company’s next projects following these recent developments.
How will Prym Fashion’s acquisition of Sher Plastics help the group further expand in the US jeanswear market?
The Sher acquisition gives Prym Fashion a home office and staff in America with an established customer base of American brands. With a US sales force and a jeans button plant in Mexico, we can truly say we have North America covered, which complements our established presence in Asia, Africa and Europe.
This is a big step in expanding the Prym name in the US, especially among the fashion brands located in the New York area, as Richard Sher who will serve as managing director of Sher Plastics, is well-known and respected throughout the industry.
Prym Fashion will begin selling Sher Plastics products throughout Europe, and will provide sales and technical service support globally. Sher Plastics’ 30 New York-based employees will form the face of Prym Fashion in the US, while their staff of 34 in Hong Kong will be incorporated into Prym’s existing operations there. Along with it Richard Sher will serve as managing director of Sher Plastics, Cindy Sher will serve as director and Greg Adler will serve as director of administration of the company.
What new products will the group focus on in the future to increase business in the jeanswear segment?
Our L.I.F.E. range of sustainable metal finishes (whose name stays for Low Impact Fastener Ensemble) are our key focus today to meet the sustainable requirements of our denim customers. These specific certified metal fasteners are manufactured to significantly lower the process and environmental footprint of Prym Fashion products compared to conventional manufacturing processes, helping them meet the growing demand for sustainability. As validated by Made By, a recognized not-for-profit organization with a mission to make sustainability common practice in the fashion industry, producing the L.I.F.E. family of fasteners requires 65% less water, 98% fewer chemicals and a 85% lower hazardous waste when compared with conventional similar accessories.
What new projects will it focus on for supporting its clients from the jeanswear segment?
Our Prym Goes Sustainable project is a major focus for the company today. Sustainability is more than a trend, it’s a movement that is here to stay, and we are committed to being the leader in the fashion accessory segment.