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Reiss sale postponed due to coronavirus

By Huw Hughes

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Report

The owner of Reiss has reportedly delayed a potential sale of the well-performing premium British fashion brand due to the Coronavirus.

Warburg Pincus, which took a majority stake in the fashion chain back in 2016, has postponed the sale ahead of closing its own offices and limiting business travel for its employees, The Sunday Telegraph reports.

In January, Warburg Pincus appointed investment bank Rothschild to review its strategic options.

The news came after a period of healthy growth from the brand which continues to outperform the sector.

For the year to 1 February 2020, total sales surged 21.9 percent to 227.4 million pounds compared to 186.5 million pounds the year before.

Like-for-like sales increased 21.6 percent, EBITDA increased by 51.6 percent to 29.3 million pounds compared to 19.3 million pounds the year before.

Photo courtesy of Reiss

Coronavirus
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