- Danielle Wightman-Stone |
London - UK fashion retailer for tall women, Long Tall Sally has been sold by Amery Capital to TriStyle, which is backed by Equistone Partners Europe, in a deal valued at 30 million pounds.
The German direct fashion retailer, TriStyle, which operates brands Peter Hahn and Madeleine across Europe, was itself acquired by Equistone last year, and the business has been actively looking for other “synergistic opportunities” that can benefit from TriStyle’s strong operating, sourcing and financial stability, strength and momentum, a press statement said.
The UK-based Long Tall Sally will continue to be operated independently from its London offices with the existing management team led by Andrew Shapin.
Long Tall Sally chief executive, Shapin, said: “The tall women of the world have a strong desire to purchase well made, up-to-date fashion, and we are proud and passionate about working to provide them real choices.
“Our team, with the backing of Amery Capital, has transformed LTS from a 10 million pound UK retailer to an international, fast growing, profitable, digitally led 50 million pound sales p.a. omnichannel business, with c.70 percent of sales online. We are very excited about the opportunity to continue to accelerate our growth around the world with the backing of one of Europe’s leading direct to consumer fashion businesses.”
Long Tall Sally sold by Amery Capital to TriStyle
Michael Bork partner of Equistone and head of the advisory board of TriStyle added: “I think Long Tall Sally, Andrew, Maurice and the team are wonderful and am excited and confident about their future together with TriStyle. We are grateful about the opportunity to work together in the future for the sake of our customers.
“As promised, we will add interesting businesses to the TriStyle Group to grow the business organically and by external acquisitions. But, it’s not all just about growth. The creativity, professionalism, understanding of customers, markets and product of both teams is outstanding and will result in a success story.”
Long Tall Sally specialises in fashion for taller women. It generates 70 percent of it revenues from it e-commerce websites, supported by a catalog distributed in its four main markets of the UK, US, Canada and Germany, as well as shipping to over 120 countries. The retailer also has 10 stores in the UK, 7 in Canada, 4 in the US and 5 in Germany.
Image: Long Tall Sally