Monsoon, Accessorize and East are part of Adena Brands Ltd. 

Monsoon is a womenswear and kidswear retailer which trades under the Monsoon and Accessorize brands and has been undergoing a transformation programme to take the business back to its roots after a prolonged period of underperformance. 

Founder Peter Simon bought the embattled business out of administration in June 2020 in a pre-pack deal with FRP Advisory which had been reviewing Monsoon’s options since March when the coronavirus crisis started to bite.

Simon had been back in charge of the business since mid-2019 after former CEO Paul Allen walked away in the aftermath of a CVA which paved the way for store closures and hefty rent reductions at around half of its estate in a bid to turn the business around.

His reacquisition of the business covers the Monsoon and Accessorize brands along with the head office, design teams and distribution centre through a new holding company Adena Brands. 

Adena saved around 140 stores from the then 230-strong portfolio and has relaunched both the Monsoon and Accessorize websites as part of the digital transformation of the business. The retailer was trading from 154 stores in early 2023. 

Bohemian fashion retailer East is also part of the group, having been acquired out of administration in 2019 and relaunched as an online only brand.

Driven by an improved clothing and accessories market as lockdown restrictions were lifted and the restructuring programme in the wake of its CVA continued to pay off, sales at Adena Brands surged 42% to £240.7m in the year to August 27 2022 against a 12-month comparable period (£169.5m). The business had returned to the black in FY2021 following restructuring and remained solidly profitable over the more recent year. 

Innovation rating: 2.5

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