Entrepreneur snaps up fashion school
An Auckland fashion college will have international owners when a deal closes later this month.
Canada company Asia Pacific Education (APEDU) will buy Grafton fashion and garment technology college NZ Fashion Tech for an undisclosed sum. The education company owns Canadian Tourism College, CG Masters School of Animation & VFX and Sterling College in Canada.
According to its website, APEDU acquires ‘‘niche education investments particularly in the private post-secondary environment’’.
Company president Feroz Ali said while the fashion college wasn’t for sale he was able to secure it.
‘‘It’s a school that prides itself on always staying relevant to the fashion industry, and the calibre of training it delivers is exceptional,’’ he said.
The college has 200 students across two campuses in Auckland and one in Wellington. It was founded by husband and wife team Kevin Smith and Val Marshall-Smith in 1995. Kevin Smith died from cancer in March 2016.
Marshall-Smith said she had received many approaches from prospective buyers.
‘‘But I wanted to make sure that it went to good safe hands, and I’ve known Feroz for over 20 years,’’ Marshall-Smith said.
‘‘He’s got so much energy, good ideas and I’m just really looking forward to seeing how it will grow now. I am excited for the organisation.’’
The college’s existing staff are staying on including MarshallSmith who will continue as interim CEO. Ali was formerly the divisional chief executive of New Zealand’s Academic Colleges Group tertiary division and chair of Independent Tertiary Institutions.
Ali said he was delighted to bring the knowledge he had acquired ’’back home’’.
‘‘New Zealand will always be home for me, and the private tertiary sector is what I know best. I’m here to do things slightly differently. To shake things up a little.’’
Ali said he was planning future acquisitions with a focus on high performing domestic schools.
‘‘With bigger schools dominating the space, there is room for smaller, more niche schools to thrive in New Zealand.’’