Cath Kidston bought by American company
By Laura Enfield | 1st July 2022
Retailer Cath Kidston has been bought by investment and restructuring firm Hilco Capital.
The brand, known for its floral and polka dot prints, relaunched two years ago, after collapsing into administration with the loss of nearly 1,000 jobs and 60 UK stores.
Since then the fashion retailer has returned to profitability, with sales of £29 million for the year ending March 2022, thanks to investment from Baring Private Equity Asia (BPEA).
Hilco Global announced the buy-out yesterday and said it would "support the dynamic next phase of the company's growth".
A spokesperson for Hilco Capital said: "We have long admired the Cath Kidston brand and are extremely pleased to have been chosen to take the company on the next stage of its journey."
Marty Wikstrom, non-executive chair at Cath Kidston, said the company was recovering from the challenged created by Covid with the company's flagship store in Piccadilly performing close to pre-pandemic levels.
It has four UK shops and 95 shop-in-shops, as well as a wholesale business and eight international franchises. It said orders from international and UK franchisees and wholesale partners grew 40 per cent over the last financial year.
Ms Wikstrom said: "I am pleased that the Hilco team will commit the resources to enable Cath Kidston to accelerate its growth. Hilco's large and experienced UK team has considerable expertise in branded fashion and consumer businesses.
"We expect to invest further in ecommerce, and thanks to Holly Marler, who joined the company in 2021 as creative director, our new product ranges are perfectly placed to appeal to both existing and new customers."
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