The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — French Connection on Friday pushed the date by which the British clothing retailer could be sold by three months to Sept. 17, with talks still ongoing with a number of interested parties.
French Connection, once known for its provocative FCUK brand of clothes and accessories, had said in October that it had begun talks with four interested parties regarding a sale of the company after launching a review.
The retailer, whose brands include its namesake French Connection, Great Plains and YMC, has struggled to differentiate itself from rivals such as Inditex's Zara, which offers a greater variety of clothes at cheaper prices.
French Connection has been in the red for more than five years. It said last year that it was close to turning profitable, adding that it would consider resuming dividend payments when it did.
ADVERTISEMENT
The retailer had earlier expected the strategic review and formal sale process to conclude during the first half of 2019.
"Discussions have progressed since then and are ongoing with a number of interested parties. As a result, the Board has extended the period for completing the Strategic Review and Formal Sale Process," the company said in a statement on Friday.
French Connection, which was founded by Chief Executive Officer and Chairman Stephen Marks in 1972, had a market capitalisation of 37.14 million pounds as on Thursday.
By Noor Zainab Hussain; editor: Rashmi Aich.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.