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Hilco Capital snaps up Cath Kidston

Tom Shearsmith
30 June 2022

Prominent financial investor and advisor Hilco has bought “modern vintage” brand Cath Kidston, according to reports from The Times.

On Monday it was reported that Cath Kidston’s owner Baring Private Equity Asia (BPEA) had instructed advisors PricewaterhouseCoopers (PwC) to find a buyer for the brand, only two years after it fell into administration with the loss of nearly 1,000 jobs.

Hilco, which invests in a wide range of retailers and sectors including home improvement and garden retailer Homebase and premium loudspeakers brand Bower & Wilkins, had been “holding detailed talks” with BPEA, according to Sky News.

BPEA took full control of Cath Kidston in 2016, following becoming a substantial shareholder in 2014, but when the pre-pack insolvency deal was struck it meant the closure of all of the brand’s UK high street stores.

The fashion retailer has since returned to profitability, with sales of £29 million for the year ending March 2022. Alongside an e-commerce website, Cath Kidston now has four UK stores, including one on London's Piccadilly, and 95 shop-in-shops.

With 35% of revenues generated from outside the UK, the firm’s focus will now be on international growth, especially in the US and Japan. Future UK expansion is also expected.

Financial details of the acquisition have not been disclosed.

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