Blog: Knickers to pants
Leonie Barrie | 14 July 2006
Theo Paphitis, who this week sold his La Senza underwear chain to private equity house Lion Capital, seems to practice what he preaches. Paphitis is not only a hot-shot businessman but also appears as one of the judges on the BBC TV show Dragons’ Den, where budding entrepreneurs have to pitch their ideas to a tough team of potential investors and more often than not leave the stage with stinging criticism ringing in their ears. Paphitis, however, seems to have hit the jackpot after paying just GBP1 – no, that’s not a typo – for the ailing underwear firm, which he has since turned round and sold for a rumoured GBP100m.
But it seems his good fortune doesn’t just end there. La Senza might be described as an “exciting and vibrant business” that has turned in significant growth over the past five years, and as specialist lingerie chain sits in a UK niche with few other occupants (most lingerie sales are through department stores and clothing specialists). But there are also signs that the market is slowing down and will face increased competition from a rejuvenated M&S. So Paphitis’ decision to sell now means its new owners will face the challenges of future growth. His fellow Dragons would surely approve.
Increasing competition for garment sourcing contracts is seeing China not only being challenged by other countries in Asia, but by sub-Saharan African and even Russian suppliers too. And it is pushing...
The monthly minimum wage for workers in Cambodia's textile, garment and footwear sector is set to rise to $153 from January next year, following a vote on the issue last week. The increase marks a ris...
The results of two highly-anticipated initiatives in the sportswear sphere were revealed last week: the launch of Under Armour’s new UAS lifestyle brand and the first pair of running shoes created at ...
The recent bankruptcy of South Korea's Hanjin Shipping, the world's seventh-largest container shipper, at the end of August, has left billions of dollars worth of merchandise in limbo, leaving the fal...
- Under Armour Lighthouse will disrupt production
- Will new Vietnam wage hinder competitiveness?
- Digitisation to drive new apparel-making models
- How TAL Apparel is staying ahead of the game
- Ethiopia violence undermines sourcing strategies
- Marks & Spencer top for modern slavery reporting
- Bangladesh garment workers rally for higher wages
- MAS Holdings shares commitment to sustainability
- Gap to shutter all UK Banana Republic stores
- H&M CEO named sustainability leader
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Apparel (GLOBAL) - Industry Report
- Global Sports and Fitness Wear Market 2016-2020