Radley acquired by Gordon Brothers as stores face closure

Gordon Brothers has confirmed its acquisition of the Radley brand and related intellectual property, a deal that has resulted in the immediate redundancy of 42 employees.

The new owner said it plans to pursue a growth strategy focused on expanding Radley’s global presence through investment in people, product development, and marketing.

Gordon Brothers intends to operate Radley under an “asset-light” model, with a focus on strengthening relationships with retail partners, growing the brand internationally, and expanding into categories including watches, jewellery, eyewear, and beauty gifting.

The transaction does not include Radley’s retail operations, which comprise 21 stores across the UK.

It confirmed that 42 jobs would also be lost “with immediate effect” as a result.

"We are thrilled to add another British icon to our global portfolio of brands," said Tobias Nanda, Head of Brands at Gordon Brothers. "Our goal is to invest in Radley and support the brand’s next phase of development, expanding the brand’s footprint in the US, UK, Australia and Asia so future generations can experience the best of British craftsmanship."

Since 2003, Gordon Brothers has invested in and partnered with several fashion and lifestyle brands, including Nicole Miller, Rachel Zoe, Chinese Laundry, Laura Ashley, Telefunken and Broyhill. The company said its strategy centres on licensing, strengthening wholesale and retail partnerships, and investing in product development and marketing to support growth.

In January 2026, Gordon Brothers acquired LK Bennett as part of a strategy to transition the business to an asset-light model. The company also purchased Poundland for £1 last year before overseeing significant store closures to help drive the brand’s turnaround.

“With our cross-border capabilities and deep experience in investing in and operating retail brands, we are well positioned to unlock value and expand these businesses into new markets while staying true to what makes each brand unique,” said Nimit Shah, Managing Director at Gordon Brothers.

The acquisition follows Radley’s announcement in March that it was undertaking a strategic review amid challenging trading conditions and comes after the brand appointed administrators from FTI on Tuesday.

According to FTI Consulting, the administration came after “a sustained period of challenging economic conditions for the retail environment”, with declining consumer demand and rising operating costs weighing on the company’s performance.

Founded at Camden Market in 1998, Radley built its reputation in handbags and accessories through its focus on British design, craftsmanship and accessible luxury positioning.

Under CEO Nick Vance, the brand has spent the past three years implementing a transformation strategy aimed at repositioning Radley as “a modern British icon of accessible luxury”.

“Like so many accessories brands, in 2024 we experienced a challenging global market,” Vance told TheIndustry.fashion in summer 2025, adding that the transformation plan was “progressing well”.

In its last financials to April 2025, Radley had posted positive growth in the areas of DTC, digital and licensing sales but had taken a hit on wholesale, in part due to technology challenges and its partners shifting to drop-ship or marketplace models.