- Huw Hughes
The owner of Reiss is reportedly considering selling the British fashion
retailer after a period of impressive trading and against a broader
backdrop of troubled British retail.
Warburg Pincus, which took a majority stake in the fashion chain back in
2016, has appointed investment bank Rothschild to review its strategic
options, according to Sky News.
While Warburg Pincus could continue to retain its stake, sources told
Sky that the likeliest outcome would be a sales process that could be
launched during the second quarter of 2020.
Reiss, which has a presence in 15 countries and trades from 69
standalone stores, would likely attract strong interest from a range of
bidders. The company has been posting strong results against a broadly
bleak backdrop for British retail.
For the year to February 2019, sales at the chain were up 8.3 percent to
186.3 million pounds while EBITDA increased 21.3 percent to 19.3 million
pounds. The company said a refreshed brand and product offer both in-store
and online, reduced promotional activity and a focus on full-price sales
contributed to its success.
Photo credit: Reiss, Facebook