Home / Knowledge / News / Apparel/Garments / Brait acquires UK apparel retailer New Look for £780mn
Brait acquires UK apparel retailer New Look for £780mn
May '15
South African retail heavyweight Christo Wiese through his private equity vehicle Brait SE has acquired 90 per cent stake in UK fast fashion apparel retailer New Look.

Brait SE has acquired the stake for £780 million, primarily from funds advised by Apax Partners and Permira, which managed the company since the last 11 years.

The remaining 10 per cent stake will be held by founder Tom Singh and other New Look management officials.

“New Look CEO Anders Kristiansen, CFO Mike Iddon and CCO Roger Wightman will remain with the Company,” a New Look press release said.

The press release added that over the past 11 years, under the Apax and Permira Funds’ ownership, New Look has undergone a transformation and is now the leading clothing retailer with more than 800 global stores.

According to Brait, New Look seemed attractive as it has posted double digit EBITDA growth in recent years, has a solid cash flow generation and established UK footprint in the higher growth value segment.

Among other reasons it is also the leader in UK market value share and has strong growth prospects in France, Germany, Poland and especially China which is a priority market.

New Look also has a well-developed multi-channel offering via traditional stores and a fast growing ecommerce platform incorporating ‘click and collect’ options.

And lastly Brait is of the opinion that the scale and efficiency of New Look’s fast fashion operating model from source to customer is difficult to replicate.

New Look has net financial debt of £1 billion, however Brait and New Look’s management are comfortable with the company’s current leverage ratio given its strong cash flow generation.

Subject to market conditions, the Company will review financing alternatives in order to optimise the capital structure within the same leverage range. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Manuj Terapanthi

Transparent supply chain and fair trade will boost sustainable market

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search