Workwear Group Acquires stake in ONTHEGO

Workwear Group Acquires stake in ONTHEGO

Workwear Group Acquires stake in ONTHEGO

ONTHEGO (OTG), leading e-retailer of customised uniforms and sports apparel, has today announced that the Workwear Group (WWG) (a subsidiary of Wesfarmers Industrial & Safety) has acquired a significant stake in its business.

The capital raise, led by the Workwear Group and backed by a number of existing OTG shareholders, takes OTG’s valuation to five times its seed round in 2017.

Mick Spencer, CEO of OTG, said the capital raise would help the Canberra-headquartered company secure its position as the disruptive leader in the uniform and sports apparel industry.

“This deal demonstrates that the market sees value in OTG’s digital disruption model. By bringing the OTG platform to the Workwear Group we will be able to offer customisation and on-demand manufacturing, leading to a superior retail experience for their customers,” said Spencer.

Michael Caggiano, OTG Chief Commercial officer, said that it was a massive vote of confidence that one of Australia’s most notable companies has acquired a stake in the business.

“With the support of the Workwear Group, OTG now has the opportunity to grow faster and reach the next phase of its business journey,” said Caggiano.

Doug Swan, CEO of Workwear Group, said, “This is a great opportunity for the Workwear Group to disrupt itself and further enhance its position as Australia’s leading uniform provider”.

The first phase of this relationship will be a joint venture between OTG and the Workwear Group. The Workwear Group have a strong heritage of leading edge technical uniform design and textile expertise. Leveraging the digital experience of OTG will enable the Workwear Group to enhance its customer proposition and extend into new product categories.

This venture will see a new white label platform created for Workwear Group’s subsidiary company NNT Uniforms, one of Australia’s oldest uniform companies, specialising in the corporate and healthcare sector. Branded as “NNT Customised” OTG and WWG will operate a multi channel approach to disrupt the uniform sector globally.

“This joint venture gives us volume, scale, and access to the Workwear Group’s extensive network. OTG will join a stable of well-known Australian brands under Workwear Group’s umbrella, including NNT uniforms, Hard Yakka and King Gee.

“While sportswear apparel will continue to be a core part of OTG’s business, we are maturing as an organisation and expanding into many other verticals, including uniforms, workwear and corporate wear.

“Today marks the end of OTG as a startup, and cements our business as a going concern,” said Spencer.

David Baxby, Managing Director of Wesfarmers Industrials, said, “The investment in OTG will allow the Workwear Group to bring its market leading uniform business to a new SME segment. OTG has built a lean business model that allows us to be responsive to a new group of customers”. In five years, OTG has grown to in excess of 30 staff in Australia, along with staff in the Philippines and India. OTG has secured contracts to outfit major sports teams such as Hockey Australia, NRL, AFL, World Rugby, Cricket Australia, IRONMAN, Cricket NSW, English Championship (Sheffield Wednesday FC) as well as LinkedIn, The Iconic, YOUI and Unicef.

ABOUT ONTHEGO

ONTHEGO (OTG) is a global e-commerce company that enables users to design and manufacture custom apparel and accessories. OTG boasts a highly reputable customer base locally and globally, including sporting names such as Hockey Australia, NRL, AFL, World Rugby, Cricket Australia, IRONMAN, Cricket NSW, Sheffield Wednesday FC as well as corporate brands such as LinkedIn, The Iconic and YOUI, and charity organisation, UNICEF.

For more information, contact:

Contact:

Aprille Lim
Media and Capital Partners
Mobile: 0413 317 788
Email: aprille.lim@mcpartners.com.au

 

Workwear Group Acquires stake in ONTHEGO

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