Gieves & Hawkes tailors an offer for snappy dressers

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The Independent Online

The collapse in the share price of gentlemen's outfitter Gieves & Hawkes is giving shareholders the cut-price chance to kit out their wardrobes and portfolios at the same time

The collapse in the share price of gentlemen's outfitter Gieves & Hawkes is giving shareholders the cut-price chance to kit out their wardrobes and portfolios at the same time

When the Savile Row tailor came to market almost a decade ago, it made pin-striped private shareholders an enticing offer. Holders of more than 1,500 shares would be entitled to a 15 per cent discount on any clothes bought in the Gieves stores. The investment required was over £1,000, but the market has not treated the stock well since.

Now, with the shares trading at 20.5p, the required stake can be bought for just over £300, making the purchase worth it just for the discount on your winter wardrobe. After two suits, shirts and an overcoat, the shares pay for themselves.

Although the shares have remained in the doldrums for some time, chief executive Mark Henderson believes the shares might be an attractive part of the package. Although many firms no longer insist on formal clothes, Gieves has launched a dress-down mode as well.

Commenting on the group's offer, Mr Henderson said: "The share price might be low, but you'd be mad not to buy them."

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