Long Tall Sally acquired by TriStyle
Long Tall Sally, the tall women's specialist fashion chain, has been sold by Amery Capital in a deal valued at circa Â£30 million.
The company has been acquired by German fashion group TriStyle which was was bought by private equity firm Equistone last year. TriStyle’s brands include Peter Hahn and Madeleine.
Following the sale, Long Tall Sally will continue to be operated independently from its east London offices with the existing management team led by chief executive Andrew Shapin.
Shapin said: “Our team, with the backing of Amery Capital, has transformed LTS from a £10 million UK retailer to an international, fast growing, profitable, digitally led £50 million sales p.a. omni-channel business, with circa 70% of sales online. We are very excited about the opportunity to continue to accelerate our growth around the world with the backing of one of Europe's leading direct to consumer fashion businesses."
In addition, Maurice Helfgott, chairman of Amery Capital, will remain as chairman of Long Tall Sally.
Michael Bork, partner of Equistone and head of the Advisory Board of TriStyle, said: "I think Long Tall Sally, Andrew, Maurice and the team are wonderful and am excited and confident about their future together with TriStyle.
“As promised, we will add interesting businesses to the TriStyle Group to grow the business organically and by external acquisitions. But, it's not all just about growth. The creativity, professionalism, understanding of customers, markets and product of both teams is outstanding and will result in a success story."
Long Tall Sally generates around 70% of its revenues from it ecommerce websites, supported by a catalogue distributed in its four main markets of the US, UK, Canada and Germany as well as shipping to over 120 countries. The business also has ten stores in the UK, seven in Canada, four in the US and five in Germany.
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