Key Takeaways
- • Hop Lun signed definitive agreements to acquire two Morocco-based manufacturing operations—Tobago and Chantelle Group's Famaco and Atma facilities—expected to close in Q4 2025, adding approximately 2.4 million annual production pieces and 800 skilled employees to its global footprint.
- • The combined Moroccan platform will integrate Tobago's 3,000 square-meter Casablanca facility (producing ~1 million pieces annually) with Chantelle's two operations (producing ~1.4 million pieces annually), creating unified scale and infrastructure for European customer access.
- • These acquisitions represent Hop Lun's third completed deal in 2025 and fifth since 2022, demonstrating an aggressive consolidation strategy to diversify global supply chain exposure and reduce geographic concentration risk.
- • Chantelle, the 149-year-old Paris-headquartered luxury lingerie brand, will remain a post-closing customer of Hop Lun, preserving a strategic commercial relationship while divesting non-core international manufacturing operations.
- • Morocco's manufacturing advantages—including high-quality production capabilities, skilled labor availability, and faster replenishment cycles to European markets—underscore Hop Lun's strategic rationale for geographic expansion beyond existing production footprint.
Summary
Hop Lun, a leading global designer and manufacturer of intimate apparel and swimwear, announced on October 17, 2025, the signing of definitive agreements for two acquisitions in Morocco that will establish a new manufacturing platform and enhance supply chain diversification. The transactions are expected to close during the fourth quarter of 2025, subject to customary closing conditions.
The first acquisition targets Tobago, a Morocco-based premium manufacturer of corsetry, lingerie, and swimwear established in 1996. Operating a 3,000 square-meter facility in Casablanca, Tobago currently produces approximately 1 million pieces annually and primarily serves French and European manufacturers with global customer bases. Tobago's founding team has committed to remain engaged through the transition and integration process, providing continuity in operations and customer relationships.
The second acquisition encompasses the Chantelle Group's Morocco operations, specifically its Famaco and Atma manufacturing facilities, which collectively produce approximately 1.4 million pieces per year. Chantelle, founded in 1876 and headquartered in Paris, ranks among the world's most established luxury lingerie brands. Notably, Chantelle will continue as a customer of Hop Lun following the closing, maintaining a valuable commercial relationship while streamlining its international manufacturing footprint.
The combined transaction will integrate three manufacturing facilities and add approximately 800 skilled employees to Hop Lun's workforce. The unified Moroccan platform provides Hop Lun with enhanced scale, operational infrastructure, local leadership credibility, and direct access to European customer bases. Management identified Morocco's compelling competitive advantages for European supply chains, including high-quality production capabilities, a skilled labor workforce, and accelerated replenishment cycles compared to alternative sourcing regions. This transaction represents Hop Lun's third acquisition closed in 2025 and its fifth since 2022, reflecting a deliberate strategy to expand geographic manufacturing diversity and reduce supply chain concentration risk.
The first acquisition targets Tobago, a Morocco-based premium manufacturer of corsetry, lingerie, and swimwear established in 1996. Operating a 3,000 square-meter facility in Casablanca, Tobago currently produces approximately 1 million pieces annually and primarily serves French and European manufacturers with global customer bases. Tobago's founding team has committed to remain engaged through the transition and integration process, providing continuity in operations and customer relationships.
The second acquisition encompasses the Chantelle Group's Morocco operations, specifically its Famaco and Atma manufacturing facilities, which collectively produce approximately 1.4 million pieces per year. Chantelle, founded in 1876 and headquartered in Paris, ranks among the world's most established luxury lingerie brands. Notably, Chantelle will continue as a customer of Hop Lun following the closing, maintaining a valuable commercial relationship while streamlining its international manufacturing footprint.
The combined transaction will integrate three manufacturing facilities and add approximately 800 skilled employees to Hop Lun's workforce. The unified Moroccan platform provides Hop Lun with enhanced scale, operational infrastructure, local leadership credibility, and direct access to European customer bases. Management identified Morocco's compelling competitive advantages for European supply chains, including high-quality production capabilities, a skilled labor workforce, and accelerated replenishment cycles compared to alternative sourcing regions. This transaction represents Hop Lun's third acquisition closed in 2025 and its fifth since 2022, reflecting a deliberate strategy to expand geographic manufacturing diversity and reduce supply chain concentration risk.
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