{"id":160802,"date":"2019-02-12T17:04:29","date_gmt":"2019-02-12T17:04:29","guid":{"rendered":"https:\/\/www.theindustry.fashion\/liberty-owner-bluegem-considers-sale-of-iconic-store\/"},"modified":"2021-08-12T13:54:45","modified_gmt":"2021-08-12T13:54:45","slug":"liberty-owner-bluegem-considers-sale-of-iconic-store","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/liberty-owner-bluegem-considers-sale-of-iconic-store\/","title":{"rendered":"Liberty owner BlueGem considers sale of iconic store"},"content":{"rendered":"
Private equity house BlueGem, the largest shareholder in Liberty, has appointed advisers to explore a possible sale<\/strong> of the iconic department store.<\/p>\n According to Sky News,<\/em> UBS has been asked to source potential bidders.\u00a0BlueGem bought Liberty for \u00a340m in 2013<\/strong> and is believed to be seeking \u00a3300m for the business now, though some believe it could be worth as much as \u00a3350m.<\/p>\n A year ago the store appointed Adil Mehboob-Khan as its new CEO<\/strong>\u00a0replacing Ed Burstell, who had left the\u00a0business in October 2016. Mehboob-Khan had previously been CEO at luxury eyewear group Luxottica and, upon his appointment, said the store had\u00a0\u201csignificant global potential\u201d.<\/p>\n BlueGem has invested heavily in the store,<\/strong> which is based just off London's Regent Street, with a major revamp of its menswear floor unveiled in 2017 and a remodelling of its womenswear departments.<\/p>\n The private equity house, which also has stakes in Jack Wills and Mamas & Papas<\/strong>, is believed to hold around a 40% stake in Liberty (though this has not been confirmed) and it's not clear whether the sale will involved the disposal of its stake in isolation or whether it would involve all of the share capital.<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":11,"featured_media":127059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[11024,7938,9789,10023,11455],"acf":[],"yoast_head":"\n