Reiss’ festive sales spike as owner Warburg seeks buyer

Reiss Melbourne

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 investment bank Rothschild to find a buyer for the group, which operates 82 stores and 104 department store concessions globally.

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