Baring Asia assumes control of fashion label Cath Kidston

The size of the transaction was not disclosed. Baring has appointed William Flanz, the former CEO and chairman of Gucci, as chairman of Cath Kidston.

The GP was already a shareholder in Cath Kidston, having acquired a substantial stake in the lifestyle brand from TA Associates and company management in 2014 with a view to expanding the business in Asia. The deal valued the company at around GBP250 million ($426 million).

Last year, Cath Kidston bought back its Japan operations - its largest outside the UK - from local conglomerate TSI Holdings, with a plan to increase the company's local footprint. Cath Kidston CEO Kenny Wilson told Reuters that the company has increased its presence from 91 to 133 Asian stores since Baring bought into the company two years ago.

Starting out as a single shop in London's Holland Park in 1993, Cath Kidston has grown into a global lifestyle brand with 226 outlets, 70% of them located outside the UK. The retailer, which is known for vintage-inspired floral prints, offers products ranging from accessories and womenswear to childrenswear and home furnishings.

TA Associates originally acquired a majority stake in Cath Kidston in April 2010 in a deal that at that time valued the company at about GBP100 million. The eponymous founder - who stepped down as creative director in 2014 - still holds a stake in the business.

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• Topics
• Buyouts
• Consumer
• Trade sale
• North Asia
• Baring Private Equity Asia
• TA Associates
• Japan
• Asia