Space NK owner preparing to put the business up for sale
Manzanita Capital, the owner of Space NK, is reportedly preparing to put the premium beauty retailer up for sale.
According to Sky News, the private investment firm has approached investment banks about initiating a process that could result in the retailer changing hands after 20 years under its ownership.
Retail industry sources told the news outlet that bankers were expected to be appointed in the near future. One said that Space NK could be worth between £300 million and £400 million. According to the report, Manzanita is undecided on whether to initiate a partial or complete sale of the business.
Manzanita’s portfolio of brands also includes Diptique, Eve Lom, Susanne Kaufmann, Byredo, Malin+Goetz, and Kevyn Aucoin.
Founded by Nicky Kinnaird, Space NK opened its first shop in 1993 in London’s Covent Garden and now has 76 stores in the UK and Ireland. It also has a presence in the US in Bloomingdales and Nordstrom.
