Home / Knowledge / News / Fashion / UK's River Island acquires Mint Velvet in £100m deal

UK's River Island acquires Mint Velvet in £100m deal

29
Mar '19
Pic: River Island
Pic: River Island
The Lewis Trust Group (LTG), the parent firm of London-based high street fashion brand River Island, has acquired British fashion brand and retailer Mint Velvet in a £100 million deal. Owned by the Lewis family, LTG in 2015 bought a stake in Mint Velvet, whose parent firm is Sabre Retail Fashion, but unveiled its plans to take control of the brand recently.

Mint Velvet co-founders Peter Davies, Liz Houghton and Lisa Agar-Rea will share a multi-million-pound payout from the deal, according to British media reports.

Mint Velvet was initially launched as House of Fraser and John Lewis concessions in 2009. (DS)

Fibre2Fashion News Desk – India


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