×
110
Fashion Jobs
LIMEAPPLE APPAREL
Ecommerce Expert With Digital Marketing Skills
Permanent · CHENNAI
L'OREAL GROUP
Area Sales Manager - Consumer Products Division, Mumbai
Permanent · Mumbai
NIKE
sr. HR Operations Specialist
Permanent · Bengaluru
L'OREAL GROUP
Senior Manager - Digital Marketing & D2C, Kerastase
Permanent · Mumbai
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
PUMA
Assistant Business Manager – Puma.Com
Permanent · Bengaluru
NIKE
Senior Software Engineer Iii – Retail Commerce Passplay, India - Consumer & Marketplace Icc
Permanent · Bengaluru
L'OREAL GROUP
Indirect Sourcing Manager
Permanent · Baddi
NIKE
Sap bi Lead Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
SAAHRA
Graphic Design Summer Internships
Internship · NEW DELHI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
Published
Jul 3, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Foschini eyes Hobbs takeover but won't pay £80m asking price

Published
Jul 3, 2017

The Foschini Group (TFG), the South African company that has been buying up a raft of mid-market UK fashion retailers, now has another big name in its sights - Hobbs.


Hobbs



The company, which already owns the Whistles and Phase Eight chains as well as the Damsel in a Dress brand, is reported to have made an offer to 3i, the private equity giant that currently owns the Hobbs womenswear chain.

That news came just a few weeks after it was reported that TFG might also be interested acquiring up-for-sale trio Oasis, Coast and Warehouse, although no more news has emerged about that so far .

The Sunday Times reported that other smaller private equity firms are also believed to be interested in Hobbs, but with none of the potential bidders currently lining up to pay the £80 million 3i wants for the business. That would mean 3i would get back less than it has invested in its ownership of the business, something that also happened when it sold Agent Provocateur this year.

That lack of buffers willing to pay the asking price is perhaps a surprise. Hobbs may have seen its turnover dropping by almost 6% to £109.9m in the latest year for which full results are available (the 12 months to January 2016), but its profit on an Ebitda basis rose and it swung back to profit during the period.

The firm’s earlier strategic review had come as its pre-tax losses widened in 2015. But the business is reported to be in much better health today, although the current fragile state of the UK fashion retail market could be depressing the potential sale price.

Copyright © 2021 FashionNetwork.com All rights reserved.