Home / Knowledge / News / Fashion / Next buys women's fashion label Lipsy
Next buys women's fashion label Lipsy
06
Oct '08
NEXT PLC (Next) has acquired Lipsy Limited (Lipsy) for an initial consideration of £17.4m in cash paid at completion. The share capital was acquired for £14m and Loan Notes repaid of £3.4m.

Lipsy was otherwise debt free at the date of acquisition. There will be further amounts payable in 2012, 2013 and 2014 dependent on the post tax profit performance of Lipsy for each of those years.

Lipsy is a well recognised wholesale brand in the young women's fashion market, with a turnover of approximately £20m in the year to June 2008. Next had revenues of £3,329m and profit before tax of £498m in the year to January 2008.

Lipsy distributes its products through a number of different retailers on the high street, in catalogues and on the internet. Lipsy also sells direct through its own website and will open its first standalone store in Brent Cross, London, in November 2008.

Following its acquisition by Next, there is no intention for Lipsy to cease supplying its products to existing customers, nor is there any intention to sell Lipsy products in Next stores. Lipsy products already feature in the Next Directory and this will continue.

Lipsy's existing executive team, led by Jeremy Stakol as Managing Director, will continue to develop and run the business from their offices in London. Next, which is based in Leicester, will provide the capital, expertise and infrastructure to accelerate the development of Lipsy into a leading brand in the younger women's fashion market.

Jeremy Stakol, CEO of Lipsy Limited said "The prospect of working with one of the UK's leading fashion retailers to accelerate the development of Lipsy is exciting. Next's sourcing, supply chain, systems and logistics are among the best in the industry and we look forward to working with Next's experienced management team."

Simon Wolfson, CEO of Next plc said "We are delighted to welcome Lipsy to the Next group and look forward to helping develop their business in the years ahead."

NEXT PLC


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Igor Chapurin
Chapurin

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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

Yes No

Active Poll

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

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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

Yes No

Active Poll

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

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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

Active Poll

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

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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