Retail news round-up on April 02, 2015: Kurt Geiger to change ownership less than year after last acquisition and womesnwear retailer Ness secures £2.5m funding.
Kurt Geiger to change ownership again
Luxury footwear group Kurt Geiger is set to change hands less than a year after its last acquisition. The upmarket shoe retailer’s management and their backers at private equity firm Sycamore Partners have appointed bankers at Goldman Sachs to examine a sale of part or all of the business, according to Sky News.
The price tag attached to the fashion label, which is moving into the children’s footwear market, is unclear although analysts said it could be in the region of £300m.
Ness attracts £2.5m in development capital
Scottish womenswear and handbags retailer Ness has secured £2.5m of development capital from the YFM Equity Partners-run British Smaller Companies VCTs (venture capital trusts) as it looks to more than treble annual turnover to in excess of £15m within five years. The business is planning a programme of store openings and ramping up its online retailing operation, according to The Herald.