THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
Omnichannel Futures Conference 2020
Online Conversion Summit 2020
Future of Retail Marketing 2020
The HR Summit 2020
The Future Of AI in Retail Conference 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
French Connection sells Toast brand

French Connection has announced plans to sell its Toast fashion and homewares brand for £23.3 million. Along with Toast founders Jamie and Jessica Seaton, the fashion… View Article

FASHION

French Connection sells Toast brand

French Connection has announced plans to sell its Toast fashion and homewares brand for £23.3 million.

Along with Toast founders Jamie and Jessica Seaton, the fashion retailer is selling the brand to Bestseller.

French Connection owns 75% of the brand while the Seatons own 25% of the issued share capital of Toast.

The retailer said the disposal will enable the company to increase its focus on the French Connection brand in its core retail, wholesale and licensing businesses. The funds raised will be used to support French Connection’s continued turnaround and return to profitability.

The deal, which is subject to French Connection shareholder approval, is expected to complete by the end of this month.

In the year to 31 January, Toast generated £19 million of revenue compared with £16.7 million in the previous year. Meanwhile, pre-tax underlying operating profit was £1.5 million compared to a previous £1.1 million.

With headquarters in London, Toast sells its products online, through a network of twelve retail stores and via John Lewis.

Stephen Marks, chairman and chief executive of French Connection, said: “This is great news for Toast and its highly talented team. Toast is a very strong brand and I have no doubt that the team will continue to develop it further under Bestseller’s ownership and Suzie’s continued leadership.

“The price achieved for Toast reflects the strength of the brand and the business we have built behind it. French Connection will use the transaction proceeds to underpin its core business, allowing us to focus on our priority of returning to sustainable profitability and growth.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Online Conversion Summit 2020
Online Conversion Summit 2020
April 30 2020
The Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
The Retail Bulletin Online Conversion Summit 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
The Future Of AI in Retail Conference 2020
The Future Of AI in Retail Conference 2020
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY