The Egyptian group, which bought SRG for about£25 million, has signalled that this purchase is just the start of a stream of acquisitions and has not ruled out making a move for embattled menswear chain Moss Bros.
Peter Lucas, chairman of Arafa’s retail arm, declined to comment on Moss, but said: “We have not finished here.”
Lucas, who also heads BMB Group, said one of the first moves Arafa will make at SRG – which owns the Suits You, Racing Green and Youngs formal hire brands – will be to bring Racing Green back to its womenswear roots. Racing Green, which is predominantly a home shopping brand, operates from just five stores and stocks mostly men’s apparel, with a small women’s accessories line.
Lucas said he remained committed to keeping the management team, led by chief executive Steve Gipson, in place.
Gresham Capital bought SRG in 2005 for about£30 million.
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