{"id":163744,"date":"2020-12-21T18:37:16","date_gmt":"2020-12-21T18:37:16","guid":{"rendered":"https:\/\/www.theindustry.fashion\/city-chic-ceo-sees-great-opportunity-ahead-after-acquisition-of-arcadias-evans\/"},"modified":"2021-08-06T12:09:38","modified_gmt":"2021-08-06T12:09:38","slug":"city-chic-ceo-sees-great-opportunity-ahead-after-acquisition-of-arcadias-evans","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/city-chic-ceo-sees-great-opportunity-ahead-after-acquisition-of-arcadias-evans\/","title":{"rendered":"City Chic CEO sees \"great opportunity ahead\" after acquisition of Arcadia's Evans"},"content":{"rendered":"
City Chic Collective CEO Phil Ryan said he sees a \"great opportunity ahead\" for his Australian plus-size fashion group after it acquired Evans from Sir Philip Green's collapsed Arcadia Group today.<\/p>\n
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The Australian group has paid \u00a323m for Evans' e-commerce and wholesale business, which have combined sales of \u00a326m.<\/strong> It will not be taking any of Evans' five standalone stores or operating any of its 100 concessions in locations such as Tesco and Arcadia's multi-brand stores Outfit.<\/p>\n Ryan said he had been tracking the progress of Evans for the past decade and for many years Evans has sold City Chic's brand to the UK market, so he is very familiar with the it and sees the potential of a digital-first business for the under-penetrated plus-size market in the UK. <\/strong><\/p>\n \u201cI have followed Evans for over a decade and seen how within Arcadia\u2019s portfolio the brand has evolved from a dominant high street retailer into a more digitally focused business. We had a successful partnership with Evans for many years which was a great channel for the City Chic brand in the UK. Evans gives us an excellent foundation in a new geography to grow our collective<\/strong> and is a brand which aligns with our existing product streams.<\/p>\n \"The acquisition meets our strategic objective of growing through global customer acquisition, digitally, and in the $50 billion curvy apparel market.<\/strong> In addition to providing a launching pad into a new market, we are confident we can deploy our lean, customer-centric operating model to drive revenue growth and cost efficiencies in the existing business. We have a great opportunity ahead of us to develop the third major region for the City Chic Collective,\" Ryan said.<\/p>\n While City Chic is not taking on any of the Evans stores the administrator, Deloitte, has permission to continue to trade the stores until March 2021 to liquidate as much stock as possible. The acquisition also excludes Evans' franchise business<\/strong> which is largely based in the Middle East.<\/p>\n