MECCANO ACQUIRED

New Zealand menswear label Meccano has been acquired by De Vere Investments. Vere Sharma, managing director, De Vere Investments said he is dedicated to developing the businesses’ online opportunities.

“Though it’s a challenging and dynamic time for the retail industry, with the growth of online sales and increased competition from New Zealand and offshore, we believe that if you do something with passion and focus it will succeed,” said Sharma.

De Vere’s was established by Vere and Christine Sharma 28 years ago to supply textiles and manufactured good to businesses throughout New Zealand, which included Meccano.

With a business relationship spanning over 10 years, former owners Sai and Cheryl Endicott-Davies said they were happy to see the company remain in New Zealand ownership.

While there will be no changes to business on the shop floor, the Meccano head offices will be moved from Hamilton to De Vere’s Auckland office.

Caption: Vere Sharma, director, De Vere Investments