Reiss to launch childrenswear and collab with Andy Murray
Reiss has unveiled plans to launch a range of childrenswear as the upmarket clothing brand sees sales rebound following a difficult 2020.
Chief executive Christos Angelides said the range – the first time Reiss has sold children’s clothes in its 50-year history – will go on sale in October.
He also announced a collaboration with Castore, a men’s sportswear brand backed by Andy Murray and has partnerships with football teams including Newcastle United and Rangers.
The plans were published alongside annual results that showed sales rose 24.6% to £170.7million in the year to the end of January. This was still down on sales of £226.5million in the year before Covid struck. However, sales since the start of February are up 52% on last year and 8% higher than pre-pandemic levels. Reiss said it expected to return to profit this year having made losses of £13.6million last year.
Most of Reiss is owned by US private equity firm Warburg Pincus, which bought a controlling stake in the firm for £230million in 2016 and had put it up for sale before the onset of the pandemic.
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