Diltex and Etam Form a Joint Venture in Mexico
Kavanagh Gorozpe advised French lingerie, pyjamas and swimwear manufacturer Etam on its formation of a joint venture with Mexican company Diltex.
Named Etam-Diltex, the joint venture is expected to boost the development and growth of the Fiorentina and Etam brands through the distribution, sale and marketing of textile products in Mexico.
Diltex develops and markets various women’s clothing brands in Mexico, El Salvador, Costa Rica, Guatemala and Honduras, as well as to the Hispanic community of the US. The company has seven manufacturing sites located in the states of Hidalgo, Jalisco and San Luis Potosí in addition to 250 of its own stores and boutiques, contributing to over 3,000 points of sale. Diltex has been in business for more than 70 years.
Etam was founded in 1906 and boasts more than 1,100 retail stores across more than 50 countries. It has recently entered the US market with the aim of representing 10% of its lingerie business in a decade.
The Kavanagh Gorozpe team handling corporate and transactional law comprised partner Patricio Gorozpe, senior associates Enrique Bojanic Vidal and Alejandra Rivera and associates Alejandro Gorozpe, Andrea Varas, Roberto Torres, Nerea González and Paulina Cabrera. Tax matters were handled by partner Paul Kavanagh, senior associate Federico Gallego and associates Adrian Rodriguez and Mauricio Álvarez. Diltex was advised by Gonzalez Calvillo, which team included partner Jorge Mondragón, associates Rosa Elena Coto, Priscila Adalid Melgar and Pamela Martínez Ornelas.