Hobbs lands at Canada's Holt stores

Fashion chain Hobbs has set foot in Canada, its first big initiative outside Europe, as it continues expansion.

From early September, Hobbs will sell its ranges in two Holt Renfrew stores - the Canadian department store group owned by the Weston Family.

A further three concessions will open next spring.

Hobbs chief executive Nick Samuel said if Canada is successful the US could be next. Hobbs is also talking to potential franchise partners in the Middle East.

The news comes on the back of talk among venture capitalists that Hobbs is preparing for a sale. Following the appointment of financial adviser Hawkpoint Partners in July, financial sources believe the retail chain could be put on the block as soon as September.

However, Samuel, who led a£30 million MBO backed by Barclays Private Equity in December 2002, dismissed this as speculation. 'We have a three- to five-year plan. Barclays has only been in for 18 months,' he maintained.

He said the focus would be on store expansion and brand development.

'That is more important and that takes precedence,' he said.

Hobbs has been expanding aggressively in the past year and now has 57 outlets, including a store on Regent Street, which opened last month. Samuel plans to open four to five standalones plus six concessions a year to reach a total of 100.