After rumours that Gazal, which handles brands such as Calvin Klein in Australia, could buy the struggling Oroton, it has come to light that the handbag brand's major stakeholder Will Vicars plans to bail it out.
Australia’s on-going Oroton story could take an interesting turn soon with Gazal, which handles some of the biggest US brands in the country, reported to be interested, as is another firm linked to The Foschini Group.
The Foschini Group is boosting its presence in the UK and international fashion sector with news that it will add Hobbs, the middle market womenswear retailer, to a portfolio that includes Whistles and Phase Eight.
Hobbs seems to be progressing with its turnaround as the womenswear chain’s sales and profits move upwards.In the year to January, its sales rose 9% to £119.5m, which just beat the 8.7% rise in gross profit to £76.2m.
First it was Shop Direct calling off its mega-billions sale and now Kaupthing is believed to have ended the bidding process for its trio of key (but far less valuable) UK fashion brands, Oasis, Coast and Warehouse.
The bidders for Oasis, Coast and Warehouse are reported to include Philip Day, Foschini, Alteri and Truwowrths, but they are believed to have offered less than half the £100m the trio's owners had wanted.