Private equity group scoops chain
Fashion retailer Elvi is to double in size and launch an online store following the purchase of the chain by private equity firm Langholm Capital last Wednesday.
The deal - said to be worth about£10 million and predicted by Retail Week last week (RW, October 6) - brought the former managing director of the White Company Oliver Spark on board as chief executive officer.
Spark said: 'I am excited by the potential of Elvi as a business that is operating in a sector experiencing strong growth. We will move online and roll out stores and concessions in order to double the business.'
Elvi, which specialises in plus-size women's clothing, currently has 25 shops and 57 concessions in department stores, which generated sales of£20 million in the year to July 2006.
No comments yet