Magenta Partners, the private equity backer of fast-growing baby and maternity wear retailer Jo Jo Maman Bébé, is considering the sale of its minority stake.
PricewaterhouseCoopers has been appointed by Magenta, which is the family office of New Look founder Tom Singh, to handle the potential sale, which is not expected to take place until next year.
Founded 25 years ago by entrepreneur Laura Tenison, Jo Jo Maman Bebe is bucking the trend for tough trading on the high street and recently reported sales up 20.3% to £57.5m in the 12 months to 30 June 2017. Like-for-like sales at the retailer, which operates 82 stores and a website, were up 14.5% while total retail sales were up 11.7% and online was up 40%,
Tenison told Sky News that she had no intention of selling any of her own shares in the business, which is just beginning its expansion into the US with its first US stores opening this spring.
Industry watchers suggest the sale of the stake could make Tenison one of the high street’s wealthiest self-made people.