Cath Kidston in talks to sell business
09 March 2010 09:36
Designer Cath Kidston is in talks to sell her retail empire to TA Associates, an American buyout firm, in a deal that values the company at around £100 million. Ms Kidston, who owns a third of the company, is only selling part of her stake but many of the company's other shareholders will sell up.
The company, which operates 30 stores and concessions in the UK, two stores in Ireland and six in Japan, is planning to expand with 50 stores in Japan and additional outlets in China, Hong Kong and South Korea. In the year to March 2009, it reported pre-tax profits of £4.6 million on sales of £31.3 million.
From humble beginnings with a single store in London's Notting Hill where she sold vintage fabrics, wallpapers and painted furniture, the business has grown into a huge empire, including homewares, women's clothes and accessories and the Cath Kids brand.
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