Pretty Green, the boutique men’s clothing brand launched by Oasis frontman Liam Gallagher, has been acquired by UK sports apparel retailer JD Sports Fashion Plc.
The sale, which follows the appointment of retail restructuring specialists Moorfields Advisory last week, includes the business, brand, online and wholesale business as well as a flagship store in Manchester, securing the future of 67 employees. The remaining 11 stores and 33 House of Fraser concessions will cease trading immediately, affecting 97 employees.
“We have worked hard over the last few weeks in challenging circumstances to secure the best outcome for the business, its creditors and its employees,” says Simon Thomas, partner at Moorfields Advisory. “Pretty Green is a popular brand and received a considerable amount of interest. We are confident that JD Sports is the right fit for the business and will help to grow its online and wholesale channels.”
JD Sports executive chairman Peter Cowgill adds: “We look forward to working with the team on future positive developments.”
Pretty Green, which Gallagher launched in 2009, experienced a difficult 2018 largely as a result of the House of Fraser administration impacting the concession business and the challenging retail environment, as many retailers struggled with increased costs and the shift to online retailing.
Chloe Collins, senior retail analyst at GlobalData, believes Pretty Green is a “much better fit” for JD Sports than Sports Direct – which was also reported to be in the running. However, JD Sports needs to revamp Pretty Green’s ‘rock ‘n’ roll’ trend offer if it is to resonate with younger generations, she says.
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By GlobalData“With difficulty in justifying its existing premium price points, Pretty Green could benefit from being repositioned to the upper midmarket, making its ranges more accessible to shoppers.”
The terms of the deal were not disclosed.
