Fashion Investments and M&A

Date: June 2020
Buyer: Boohoo Group
Target: Oasis and Warehouse
Business: High street fashion
Value: £5.25 million
Details: Online fashion retailer Boohoo has agreed to buy the online businesses and all associated intellectual property of Oasis and Warehouse from Hilco Capital. The brand and stock of both businesses were initially bought by Hilco Capital when Oasis and Warehouse collapsed into administration in April 2020.

Date: June 2020
Buyer: Puig
Target: Charlotte Tilbury Group
Business: UK-based make-up brand
Value: Approximately £790 million
Details: Barcelona based fragrance and fashion group Puig has acquired a majority stake in UK-based make-up brand Charlotte Tilbury. The deal is being described as a ‘strategic partnership’ between Puig and the brand’s founder Charlotte Tilbury who will retain a substantial minority stake whilst continuing to act as Chair, President and Chief Creative Officer. Bloomberg is reported to have valued the company at around $1bn (£790m).

Date: June 2020
Buyer: Brigadier Acquisition Company
Target: Moss Bros
Business: Menswear tailoring business
Value: £22.6 million
Details: Brigadier Acquisition Company agreed to pay 22p per share in Moss Bros to take Moss Bros private in March 2020. Brigadier attempted to retract the offer and after some back and forth with the Takeover Panel as to whether the offer could be withdrawn, the Takeover Panel has ruled that Brigadier must proceed with the offer and the transaction is expected to complete this month.

Date: May 2020
Buyer: Boohoo Group
Target: 21Three Clothing (trades as PrettyLittleThing)
Business: Web-based fast fashion retailer
Value: Initial consideration of £269.8m with potential for further consideration based on share price
Details: Online retailer Boohoo has purchased the remaining 34 per cent of its subsidiary company PrettyLittleThing, Boohoo already held a 66 per cent majority stake in the business.

Date: May 2020
Buyer: Fashion Ventures Limited
Target: Little Black Dress
Business: Womenswear marketplace
Value: Not disclosed
Details: Manchester based Little Black Dress has been bought out of administration by Fashion Ventures Limited, a private investment firm in a pre-pack deal.

Date: May 2020
Buyer: SCP Private Equity
Target: TM Lewin
Business: British menswear brand
Value: Not disclosed
Details: Private equity firm SCP has purchased TM Lewin from its current owner Bain Capital via a special purpose vehicle named Torque Brands. TM Lewin has been backed by Bain Capital since 2015. TM Lewin was founded in 1898 and currently has 66 stores in the UK.

Date: March 2020
Buyer: Inverleith LLP
Target: Montane
Business: Outdoors clothing and equipment
Value: Not disclosed
Details: Private equity firm Inverleith LLP has bought a majority stake in Montane. Montane is the British Mountaineering Council’s recommended clothing and pack partner.

Date: November 2019
Buyer: Estée Lauder
Target: Dr Jart+ cosmetics
Business: Beauty, skin care products
Value: Around $1.1 billion
Details: Estée Lauder is acquiring two-thirds of the share capital of the owner of growing Seoul-based skin care company Dr Jart+ cosmetics, Estée Lauder already owns a minority stake in the business.

Date: November 2019
Buyer: VMH Moët Hennessy Louis Vuitton SE (LVMH)
Target: Tiffany
Business: Global luxury jeweler
Value: $135 per share in cash (around £12.6bn)
Details: It has been announced that LVMH and Tiffany have entered into a definitive agreement for LVMH to acquire Tiffany. The transaction is expected to close some time in 2020 subject to a number of conditions.

Date: October 2019
Buyer: Luxury Ventures (investment arm of LVMH)
Business: LA based streetwear label
Value: Financial details have not been disclosed.
Details: Madhappy is a two year old streetwear/loungewear brand with positive and optimistic messaging.