Blog: Retail 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.
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 most-read stories on just-style this week include a look at why UK retailer Marks & Spencer is the top company for monitoring and reporting on modern slavery, how a potential minimum wage in Vietn...
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...
- Will new Vietnam wage hinder competitiveness?
- Digitisation to drive new apparel-making models
- Fashion fit for the future – strategies for speed
- Under Armour Lighthouse will disrupt production
- How TAL Apparel is staying ahead of the game
- MAS Holdings shares commitment to sustainability
- Gap to shutter all UK Banana Republic stores
- M&S "unappealing" clothing a barrier to growth
- Modern Slavery Act boosts supply chain engagement
- Bangladesh tops China as lead cotton importer
- 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