Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Always Active

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Always Active

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Always Active

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Always Active

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Thursday, May 1, 2025

British fashion retailer Next adds FatFace to growing stable of brands – ET BrandEquity

[ad_1]

British clothing group Next has agreed to buy FatFace in a deal valuing the fashion chain at 115.2 million pounds ($140 million), adding another brand to a fast-growing portfolio.

Next, which operates from about 460 stores in the UK and Ireland and has an online presence in over 70 countries, has been picking up stakes in or acquiring smaller retailers in recent years as it expands its “Total Platform” business.

This year it has already purchased the Cath Kidston brand and raised its stake in upmarket fashion chain Reiss to 72%.

Last year, Next bought fashion retailer Joules, furniture brand Made.com, and a minority stake in baby goods retailer JoJo Maman BeBe.

Next said on Friday it will pay FatFace’s current owners, a consortium of financial institutions including Alcentra and Lloyds Banking Group, a combination of cash and new Next shares.

The deal, expected to complete within the next few weeks, will see Next hold 97% of FatFace’s equity, with 3% held by management.

FatFace trades online and from 180 stores in the UK and Ireland, as well as 28 in the United States and Canada.

The company made a pretax profit of 19.5 million pounds in the year to May 2023 on sales of 282 million pounds, up 15% on the year.

Will Crumbie, FatFace’s CEO since 2021, will continue to lead the business, Next said, adding that the deal would not materially impact group profit in its current year.

Last month, Next raised its profit outlook for the third time in four months. Its shares are up 18% so far this year.

  • Published On Oct 16, 2023 at 06:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETBrandEquity App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


[ad_2]

Source link

Related Articles

- Advertisement -spot_img

Latest Articles