Blog: Michelle RussellRetail magnate Paphitis eyes La Senza deal

Michelle Russell | 2 July 2014

It looks like British retail magnate and Dragons Den panellist Theo Paphitis might be planning to take control of UK lingerie chain La Senza once again, after selling it off in 2006.

The chain's UK operations were this week placed into administration for a second time, despite sustained efforts to make the businesses more commercially viable.

La Senza was acquired in 2012, but has experienced difficult trading conditions. It previously went into administration in January 2012, closing more than 80 branches.

It seems Paphitis, however, might be planning to snap up the La Senza stores for his own lingerie brand Boux Avenue, reports have suggested.

Paphitis, who also owns stationery retailer Ryman and hardware chain Robert Dyas, bought La Senza in 1998 and turned its fortunes around, before selling it to private equity firm Lion Capital in 2006 for GBP100m.

He told The Daily Telegraph today: "We've said we'll help and see if there's anything we can do. It was my baby so it's hard to see it floundering.

"We don't know what the problem is yet. It was an incredibly profitable business [in 2006] and remained so for several years afterwards."

Paphitis, who also owns stationery retailer Ryman and hardware chain Robert Dyas, certainly knows the business and has build it into a success story once. Maybe he is the right person to turn its fortunes around for a second time.

Sectors: Apparel, Finance, Retail

BLOG

Industry welcoming move to renegotiate NAFTA

The US textile industry has welcomed President Donald Trump's decision to renegotiate NAFTA, saying it is in America's national interest to modernise the trade agreement....

NEWS

Coach launches tender offer to acquire Kate Spade

Coach Inc today (26 May) made its earlier bid for Kate Spade official by launching a tender offer to acquire the accessories and apparel business for $18.50 per share in cash....

BLOG

Cutting edge technology defining apparel industry

Cutting-edge textile processing products including a new technology for dyeing yarns in a more sustainable manner and a digitalised sewing machine set up via a touchscreen or app, were among the most ...

NEWS

Deckers optimistic as Q4 loss narrows

US apparel and footwear group Deckers Brands - which last month said it was exploring strategic alternatives, including a potential sale of the firm - narrowed its net loss in the fourth quarter, and ...

BLOG

Ethiopia apparel and textile industry making massive gains

just-style's editor Leonie Barrie recently visited Ethiopia to see for herself the massive developments taking place to elevate this East African nation into a compelling new garment and textile sourc...

BLOG

Collaboration remains a challenge

Collaboration between retailers, brands and their suppliers is a mission critical element in developing a slicker and more cost-effective supply chain. But in an increasingly complex fashion environme...

just-style homepage



Forgot your password?