Twitter
Facebook
Linked In
RSS
Login or Register
New to InternetRetailing?
Register Now
Internet Retailing
IREU Top500 The Customer Report: 2018

IREU Top500 The Customer Report: 2018

This is your 1 complimentary article for this month

Become a member for unlimited and immediate access.


Register
Already a member? Log in here

Office Shoes changes hands for £256m

Linked InTwitterFacebookeCard
Office Shoes has changed hands in a £256m deal.

South African fashion retailing group Truworths International has bought a majority 89% stake in the multichannel retailer, a Top100 company in InternetRetailing's IRUK Top500 research, in a deal that closed on December 4 and brings it into the UK market for the first time. The sellers were investment funds advised by European private equity company Silverfleet Capital. The remaining 11.1% is still owned by Office's management, though Truworths has the option to buy those shares between three and five years after the acquisition.

Office currently trades through stores in the UK and Ireland, 47 department store concessions, six shops in Germany and online. About 20 of revenues are generated through ecommerce; total sales reached £270.2m in the year to January 2015.

Truworths chief executive Michael Mark said the deal would give the company access to British and European retail markets, diversifying its customer base and earnings.

Law firm Shoosmiths advised Truworths International on the deal.

Linked InTwitterFacebookeCard

Become a Member

Create your own public-facing profile
Gain access to all Top500 research
Personalise your experience on IR.net
Internet Retailing
We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. Join the conversation.

© InternetRetailing Media

Latest Tweet

Internet Retailing
Tamebay
eDelivery
Twitter
Facebook
Linked In
Youtube
RSS
RSS
Youtube
Google
Linked In
Facebook
Twitter