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Republic up for sale
27
Apr '10
Rothschild, one of UK's leading investment banking firms, has been hired by fashion chain, Republic to explore alternatives for the company for sale, listing or refinancing.

Change Capital Partners, the private equity group, has also asked Rothschild to come up with ideas, so that it can gain from the Republic shares it purchased five years ago.

Change Capital Partners bought Republic for £105 million in 2005. Within the last three years, Republic's profits have increased by three times to £33.5 million ($51.7 million). Also, in the last two years, the like-for-like sales increased by 16.7 percent to £173 million. This has helped the retailer pay-off over 90 percent of its debt.

During the economic meltdown, Republic added 10 more stores to the existing number, totalling its number of stores to 103. This year also, it intends to add 15 more stores. Also, the company's website is the second biggest multi-brand fashion online portal after Asos.

Republic's growth during the period of global economic downturn was partly due to its young target audience. Although, it started retailing Leeds, men's denim, in 1986, it now stocks multi-brand casual fashion apparels for both men and women and also retails its own brand SoulCal.

Fibre2Fashion News Desk - India


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