Evans, a former Arcadia Group brand that was acquired by global omnichannel retailer City Chic Collective Limited in 2020, will hand over its brand name, intellectual property and customer base to Peterborough-based AK Retail Holdings. The agreement also included the sale of all the inventory in City Chic's EMEA business.
Evans is described as being committed to providing fashionable and high-quality clothing for plus-size women and AK Retail Holdings, which also owns Yours Clothing and Long Tall Sally says the move perfectly aligns with its mission to cater to a diverse range of customers.
Andrew Killingsworth the founder of AK Retail Holdings expressed his excitement about the acquisition, stating: “We are absolutely thrilled to acquire Evans and build upon this legacy, taking the brand to even greater heights with fresh opportunities and enhanced offerings to Evans customers.”
CEO and managing Director of City Chic, Phil Ryan explained he has witnessed a deterioration in the EMEA market over the past two years and this was compounded by supply chain constraints which he believes stalled the ability for the company to sell its expanded product range.
He added: “We are continuing with the rationalisation of our product offering, streamlining our supply chain and focusing on cost management. I am confident that we can return to a more agile operation that quickly responds to consumers' changing needs and puts us in a much stronger position for when market conditions improve.”
AK Retail Holdings acquired women and men's fashion retailer M&Co in February this year.
The online business and IP rights of Long Tall Sally was acquired by AK Retail Holdings back in 2020.
