Reiss has posted a jump in Christmas sales as its private equity owner Warburg Pincus seeks a buyer for the chain.
The fashion retailer said group sales jumped 18% in the seven weeks to January 18. In the UK, revenues rose 15%.
Warburg Pincus shelled out more than £100m to acquire a majority stake in the business from founder David Reiss back in 2016. The move valued Reiss at more than £230m.
Warburg has now approached the investment bank Rothschild to find a buyer for the group, which operates 82 stores and 104 department store concessions globally.
Reiss boss Christos Angelides said: “We are pleased that Reiss has performed strongly over the Christmas period, which is a continuation of the momentum we have seen throughout the whole of 2019.
“Looking ahead, as we start the new year, I am encouraged by the early sell-through of our spring/summer collections and the continued expansion of our business internationally.”
Reiss reported a 21.4% increase in profits to £19.3m during the year to February 2019. Analysts expect that to jump to almost £30m when the retailer reports again in April.
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