Men's underwear whiz seeks candidates in hosiery

Melbourne underwear manufacturer and wholesaler Mitch Dowd is on the acquisition trail following its purchase by investment company ANZ Private Equity.
Former Mitch Dowd managing director Jason Dowd - now a company director - said ANZ Private Equity's purchase of a majority share in Mitch Dowd last October had opened up a number of possibilities for the business.
"We're looking at growing the company both organically and through bolt-on acquisitions," he explained.
Mitch Dowd would nurture its stable of products - proprietary men's underwear brand Mitch Dowd, licensed men's underwear brands Ian Thorpe and JAG and a suite of home brands - through sourcing, product development and marketing activities, he said.
"The company is also considering export opportunities in the US and is currently initiating export of the Ian Thorpe brand to Japan," he said.
It would also consider acquiring viable businesses with "distribution synergies" in line with Mitch Dowd - which currently distributes its products through more than 1000 stores across Australia.
"In addition we're looking to expand into new product areas including gymwear and hosiery," he claimed, adding that Mitch Dowd recently acquired the license to manufacture and distribute JAG women's underwear.
Dowd claimed ANZ Private Equity's acquisition had also led to a "more robust" board at Mitch Dowd, with the recent appointment of managing director Simon Winter - former head of hosiery giant Kayser - boosting the company's capabilities in the hosiery market.
Dowd said the company did not rule out a move into retail - either through retail outlets or Internet retailing - over the long term.
"At the moment we have no plans to move into retail but our strategy could change depending on how far major retailers take the current trend towards direct sourcing," he explained.
ANZ Private Equity's objective was to grow the company over a period of three to seven years before exiting through a trade sale or floatation, he added.