Acquisition By Link International and Fast Retailing
In September 2003, Link International bought an 89% stake in the Theory company for $ 100 mio., after Japanese giant textile firm Fast Retailing Co. of Tokyo, established in 1963 and owner of the popular Uniqlo brand, had acquired a 47.1% stake in Link. Rosen received $ 49 mio, retained the remaining 11% in the new company, was replaced as CEO by Chikara ‘Ricky’ Sasaki of Link but remained president and COO. Tahari was allocated $53 mio of the sale and had no shares in the new company which was renamed Theory Holdings. The deal was explained by the fact that the label was to become a truly "global brand". The Japanese parent company has since then traded under the name of Link Theory Holdings and went public in 2005. Fast Retailing had held a 32.32% stake in LTH since 2004 and, in spring 2009, after acquiring the remaining stock, LTH became a fully owned subsidiary of Fast Retailing.
Read more about this topic: Theory (clothing Retailer)
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