In a move that highlights the growing influence of Filipino investors in the global sporting goods market, a group of Philippine businessmen, including the president and director of Bacolod Real Estate Development Corporation (BREDCO), has acquired Australian activewear brand 2XU for $22 million.
The business and investing news platform The Independent Investor reported that the acquisition was facilitated by TriVantage Holdings Pte Ltd., a Singapore-registered special purpose vehicle co-owned by the Filipino investors and seasoned consumer brand executives. The group comprises John Alonte (BREDCO president), Willy Au (BREDCO director), Eric Manlunas, Angelica Suiza, and Harry Markl.
Markl, a co-founder of the e-commerce giant Zalora, played a pivotal role in identifying and securing the acquisition for TriVantage. He will represent the new ownership and collaborate closely with 2XU’s existing management team.
Founded in Australia in 2005, 2XU (pronounced “Two Times You”), by former triathlete Jamie Hunt and his partners, Clyde Davenport and Aidan Clarke, 2XU has evolved from a specialist running and triathlon brand into a global leader in technical sportswear. The company is renowned for its relentless pursuit of performance enhancement through innovative fabric technologies.
Previously backed by luxury goods giant LVMH (Louis Vuitton Moët Hennessy), 2XU boasts a presence in over 70 countries worldwide. The brand caters to a wide range of athletes, from NBA and NFL teams to US Navy SEALs, Olympians, and world champions.
“We’re humbled that we can acquire a well-known global Australian brand and we intend to be responsible stewards and protect what the 2XU brand stands for,” Alonte was quoted in Independent Investor report. We will continue to pursue the original vision of making 2XU Australia’s first major global sportswear brand, he added.
