Reiss sell majority stake to private equity firm

Endaba Group

Upmarket retailer Reiss has been reviewing options for their international expansion and has finally announced an agreement with Warburg Pincus, selling a majority stake in their business. The new majority owner is a private equity firm, focused on growth investing and the deal valued the retailer at £230m – Reiss achieved total sales of £146m in the year to January 31. The brand is looking to build on its UK success and expand internationally, particularly the US, Canada and Australia. Founder David Reiss will remain as Chairman and CEO and will retail a significant investment in the business