New Look confirms that it has received an indicative offer from Asia Global for Mim, its standalone French retail business, and has entered into a period of exclusive discussions with them. Negotiations are at an early stage and there can be no certainty that a transaction will be concluded.
A further announcement will be made in due course as appropriate.
Enquiries
Tulchan Communications LLP 020 7353 4200
Lucy Legh
Tom Buchanan
Notes to editors
Founded in 1969, New Look has grown from a single store to become a dynamic, international, multichannel retail brand with a unique value-fashion offer in apparel, footwear and accessories for women, men and teenage girls. It is the No. 1 value retailer for the under 35s women’s clothing and accessories market, including footwear (source: Kantar Worldpanel for year to March 2014). New Look has over 1,100 stores across the globe in 24 countries.
The Groups Mim brand consists of 276 wholly owned Mim stores in France, Belgium, Morocco and Romania plus 80 Mim affiliate* stores.
*An affiliate is a concession agreement in which the partner bears the store and staffing costs while Mim retains ownership of the stock.