Stores expansion on the cards for fashion retailer
Fashion retailer Republic is to open more and bigger shops nationwide following a£105 million buy-out of the retailer backed by private equity house Change Capital.

The much-anticipated deal gives Republic, which sells brands such as Hooch, Replay and G-Star, the opportunity to become 'the UK's leading multi-brand retailer of young adult fashion', said Change Capital managing director Steve Petrow. 'In a difficult retail climate, Republic stands out as a star in its sector,' he added.

Republic has 76 stores at present and has opened 36 over the past two years, helping to push sales to£100 million.

Republic chief executive Tim Whitworth and buying director Carl Bewins have both reinvested in the store group. Whitworth said: 'I and the team are ambitious to take the company to the next level and believe we have the right partner in Change Capital to achieve this.'

Change was founded in 2003 by former Marks & Spencer boss Luc Vandevelde. His one-time M&S colleague, ex-chief executive Roger Holmes, also subsequently joined the venture capitalist. Other Change investments include hardware retailer Robert Dyas and blinds specialist Hillarys.

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