London-based premium women’s activewear retailer Sweaty Betty is reportedly considering selling itself amid the coronavirus pandemic.
Bloomberg cited sources with knowledge of the development that the retailer is gearing up for the sale.
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One of the sources was cited by the publication as saying that the retailer may make $524m in a deal with “large retailers or a private equity firm” as possible suitors.
Founded by Tamara Hill-Norton and Simon Hill-Norton, Sweaty Betty’s first boutique launched in 1998.
As per information posted on its website, the retailer operates more than 60 stores in the UK, the US, Canada and Hong Kong.
It also has presence via e-commerce and seasonal catalogues and concessions in department stores such as Harrods and Selfridges.
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By GlobalDataUS-based consumer-focused private equity firm L Catterton is one of the many big supporters of the company. It made a strategic growth investment in Sweaty Betty in 2015.
In a separate development, owner of womenswear brand Yours Clothing AK Retail Holdings acquired British womenswear retailer Long Tall Sally.
It will take ownership as of next month.
Drapersonline.com quoted AK Retail Holdings owner and CEO Andrew Killingsworth as saying: “The brand is one we are proud to own and we look forward to engaging in meaningful dialogue with LTS customers, developing the offer and taking the brand to the next stage.”
