New Look Group Ltd., Britain’s second- biggest retailer of women’s clothing, said it’s equipped for an initial public offering amid renewed speculation that its private-equity holders are seeking an exit.
BoF compiles the most important professional moves of the week.
LONDON, United Kingdom — New Look Group Ltd., a closely held budget fashion retailer, plans to open “hundreds” of stores in China as it joins competitors such as Hennes & Mauritz AB that are tapping into growth in the world’s most-populous nation.
New Look joins list of companies scrapping IPOs (Independent) “The fashion chain New Look yesterday became the third major company in as many days to scrap a planned stock market flotation, blaming the lack of appetite of potential investors.” Superdry owner SuperGroup plans stock-market flotation (Guardian) “SuperGroup, the fashion company behind the fast-growing Superdry label, is expected to unveil plans to
New Look to raise £650m in IPO as it takes on high street old guard (Telegraph) “New Look aims to raise £650m by returning to the stock market, giving it the funds to repay debt and keep taking business from high street stalwarts Marks & Spencer and Next.” Valentino Sales Rebound May Signal More Openings, Chief Says (Business Week) “Retailing revenue rose at a ‘double-digit’ pace in the last two
H&M signs Sonia Rykiel (Drapers) “Swedish clothing chain H&M has signed French fashion veteran Sonia Rykiel to design a range of lingerie and related accessories to be launched on December 5.” Job Wanted — and Pay Would Be Nice (New York Times) “Many of Britain’s most successful brands may be rich in creativity, but they are poor in revenue. So when a collection appears on the catwalk, often those
Cavalli agrees to sell 30 percent to Clessidra (Reuters) “Italian designer Roberto Cavalli has signed a letter of intent with Italian investment fund Clessidra to sell 30 percent of his fashion house.” New Look EBITDA soars 10 percent (Drapers) “Total group sales in the year to March 28, grew by 14.9 percent to £1.32 billion and EBITDA rose 10.2 percent to £217.6 million.” What Is Sugar, Inc. and Why Is It
Bucked by Designer, Versace CEO Eyes Exit (WSJ) “Gianni Versace SpA Chief Executive Giancarlo Di Risio is expected to resign, a person familiar with the matter said, after months of clashes with lead designer Donatella Versace over how to cut costs at the Italian fashion house.” Lanvin Posts Profit, Sales Gain 29 Percent (WWD) “Lanvin, fueled by the creativity of Alber Elbaz, can face the economic crisis “in