The struggling apparel group has announced that it is considering an IPO for its Madewell business, further revealing that Michael J. Nicholson will be taking over as the company’s interim CEO, effective immediately.
PE firms Partners Group, Kedaara Capital is expected to spend around Rs 5000 crore (approx $752 million) for the acquisition of retail chain Vishal Mega Mart (VMM) from another PE firm, TPG Capital and Shriram Group.
Carlyle Group is set to close its biggest-ever Asia private equity fund at $6.5 billion, people with direct knowledge of matter said, in a deal that adds to the record levels of funds seeking deals in the region.
The back off from Abercrombie & Fitch on Monday about a potential sale shows that mergers and acquisitions for fashion retailers are not the easiest move, only braved by a select few and avoided after a certain age.
Private equity firm Blackstone Group LP's credit arm, is acquiring more of J. Crew Group's debt, hoping for a profitable trade that could also give the fashion retailer more time to stave off bankruptcy, sources said.
The end of an era: Jenna Lyons is stepping down as executive creative director and president of the struggling retailer. No successor will be named but former Madewell CD Somsack Sikhounmuong will take over design.
As if there wasn't enough bad news around for struggling apparel retailer J Crew Group at the moment, the brand's e-commerce website was down for several hours on Monday on what should have been a key shopping day.