Mon, 27 Sep 2021 | BUSINESS SALE
Cornish fashion brand Seasalt is exploring the possibility of a sale, after seeing its annual sales boosted by nearly £10 million over the past year. The Falmouth-based brand, which sells a wide range of clothing, was founded in 2004 and has grown to have a store network of more than 70 locations, with its clothing sold in over 150 countries via several third-party websites.
Despite warning earlier in the year that store closures during COVID-19 lockdown would impact its profits, Seasalt recorded sales of £75.3 million this year, compared to £65.6 million for the year ending February 2020.
The uptick in sales comes in the wake of widespread domestic holidaymaking during the COVID-19 pandemic. The company undertook a digital transformation prior to the UK’s first lockdown and this has helped it offset the impact of a drop in store sales, with online sales increasing 95 per cent in January 2021 compared to the year before.
The retailer was founded by brothers Leigh, Neil and David Chadwick. The Chadwick brothers remain the brand’s majority shareholders following a £16 million investment from Business Growth Fund (BGF) and Santander three years ago.
A spokesperson for Seasalt said: “Seasalt is enjoying a strong year and has ambitious plans for the future. As part of those plans, we are in the very early stages of exploring a number of options to support further online and offline growth both in the UK and internationally. We have no further information to share at this time.”
The planned sale comes during a period of busy dealmaking in the global fashion industry, driven by a range of factors including the rise of e-commerce and decline of the high street, bigger brands looking to strengthen their offering to offset the impact of COVID-19 and the long-standing interest of private equity in the fashion sector.
Find businesses for sale here.
If you are looking for an exit, we can help!
The company offers the sale of fashion jewellery, lingerie, and sexual health products and toys, pyjamas, gym clothing, beachwear, and PPE. Priding itself on its high-quality products and exceptional customer service, the company offers its produc...
LEASEHOLD
A thriving e-commerce business that specialises in both travel luggage and hamper gifting sectors. The business has been trading since January 2012. They have introduced a branded website for affordable gifting to suit all budgets and occasions and a...
LEASEHOLD
A commercial vehicle sales business that supplies a range of used commercial vehicles from a number of well-known brands, including Ford, Citroen, Mercedes and Vauxhall. Trading out of a sizable portable premises. Operates from leasehold premises...
LEASEHOLD
26
|
Jan
|
UK M&A down 16 per cent in 2022, but sentiment remains optimistic | BUSINESS NEWS
New analysis from PwC has revealed that UK M&A activity decl...
26
|
Jan
|
Private equity-backed law firm targeting further M&A in 2023 | BUSINESS NEWS
Stowe Family Law, a Leeds-headquartered specialist family la...
25
|
Jan
|
Eastbourne seafront hotel on the market for £2.3m | COMMERCIAL PROPERTY
The Eastbourne Riviera Hotel, located on the town’s po...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources