New Look launches £1.2bn bond issue to repay high interest Pik loans June 8, 2015 New Look is launching a bond issue totalling £1.2bn to restructure its debt and pay off its high-interest loans as it transitions to new owners. The group, which has recently been bought out by South African tycoon Christo Wiese, is issuing £1bn-worth of senior secured notes due in 2022 and £200m senior notes due [...]
New Look sales, profits rise despite “competitive” market June 2, 2015 New Look's new parents will be pleased with the fast fashion's latest set of results, showing the turnaround under Anders Kristiansen continuing to stabilise a previously struggling business. The figures Revenues were up 3.4 per cent to £1.4bn for the year to March 28, as like-for-likes climbed four per cent and UK like-for-likes rose 5.1 [...]
New Look confirms £780m sale to South African magnate Christo Wiese’s Brait May 15, 2015 Britain’s second-largest women’s clothing retailer confirmed today that it has a new owner. Private equity firm Brait, owned by South African billionaire Christol Wiese, has bought a 90 per cent stake in the fashion chain in a £780m deal. The figure is significantly less than the £1.9bn mooted in reports. The deal marks the first [...]
Ex-Tesco boss Sir Terry Leahy’s investment firm eyes New Look bid with China’s CDH May 5, 2015 The investment firm Clayton Dubilier & Rice (CD&R), which names supermarket supremo Sir Terry Leahy among its advisers, is assembling a bid for high street fashion chain New Look, according to reports. The private equity firm, which former Tesco boss Leahy joined in 2011, has held talks with Chinese group CDH to mount a bid for [...]
New Look adds to regeneration of east end of Oxford Street March 4, 2015 FASHION retailer New Look is to open a flagship store at the east end of Oxford Street, helping to drive further change at the notoriously dowdy end of London’s largest shopping street. Property firm Great Portland Estates said yesterday that it has pre-let a third of its huge 90,500 square feet development at 73-89 Oxford [...]
New Look hires JPMorgan as it eyes £2bn float February 23, 2015 Fast fashion chain New Look has taken a step closer to an initial public listing (IPO), having hired JP Morgan to work on options for a flotation. Reports suggest the retailer, which is currently owned by private equity firms Apax and Permira as well as founder Tom Singh, could be valued at as much [...]
New Look IPO: We’re dressed up and ready for a float, says chief exec February 10, 2015 New Look is ready to consider another attempt at an initial public offering (IPO), the fashion retailer’s chief executive said yesterday, as it blamed the warm weather for a fall in third quarter sales. Anders Kristiansen has consistently brushed off rumours that the retailer is planning a return to the market. New Look pulled a [...]
Sales down but market share up as New Look turnaround continues February 10, 2015 New Look has suffered declines in the “unseasonably warm” three months to December 27- but the fast fashion chain is still buoyant after growing market share. The figures New Look's revenues dropped 1.6 per cent in the third quarter, from £406.6m to £399.9m. Adjusted EBITDA was £76.8m, down 2.7 per cent from £78.9m last [...]
New Look ties up sale of French business MIM to Hong Kong firm Main Asia November 24, 2014 New Look said yesterday it had completed the sale of its French business Mim to Chinese firm Main Asia without disclosing the terms of the deal. Main Asia is a Hong Kong-based company established earlier this year to acquire Mim. Very little is known about the company except that the main shareholders and management are [...]
New Look exits Russia blaming political unrest November 11, 2014 New Look has pulled out of its franchise agreements in Russia and Ukraine, blaming financial and political instability in the two countries. The value fashion retailer, which had previously targeted Russia as a key area of growth, said yesterday it was closing all 20 shops in Russia and six shops in Ukraine. Chief executive Anders [...]