Radley acquired out of administration by Gordon Brothers
Struggling handbag brand Radley has been acquired out of administration by LK Bennet owner Gordon Brothers.
The acquisition includes the Radley brand and related intellectual property. However, the brand’s two shops and 19 concessions will close at the end of the summer after their stock has been sold. This has resulted in the loss of 42 jobs.
Subscribe to TRBAdministrators at FTI Consulting said the administration had followed “a sustained period of challenging economic conditions for the retail environment”.
In a statement, Gordon Brothers said the firm will drive a growth strategy that expands Radley’s global brand and operations through strategic investments in people, products and marketing.
This will include pursuing an asset-light that focuses strengthening relationships with key retailers, expanding the brand’s international presence, and extending Radley’s product categories beyond handbags, watches, jewellery, eyewear and beauty gifting.
Tobias Nanda, head of brands at Gordon Brothers, said: “We are thrilled to add another British icon to our global portfolio of brands.
“Our goal is to invest in Radley and support the brand’s next phase of development, expanding the brand’s footprint in the US, U.K., Australia and Asia so future generations can experience the best of British craftsmanship.”
Carolyn D’Angelo, senior managing director, head of brand operations at Gordon Brothers, said: “We are honoured to be the brand stewards for this modern British brand and look forward to bringing Radley to a wider consumer audience, with new territories, product categories and retail distribution channels.”
Founded in 1998 from market stall in Camden, Radley has headquarters in London which is home to its own in-house design team.
