Kuwait firm picks up troubled La Senza

 

The struggling lingerie chain La Senza's UK arm fell into
Kuwaiti hands last night after the international franchise operator
Alshaya struck a deal with administrators KPMG, safeguarding 1,100
jobs.

La Senza fell into administration last month but Alshaya has acquired the exclusive franchise rights to the brand in the UK and 60 stores. Alshaya plans to invest £100m in the brand over the next two years, designing new collections and overhauling stores.

The acquisition deepens the firm's long-standing links with the UK as the international franchise partner for a host of high-street big names, including Mothercare, Debenhams, Boots, Next, River Island and Topshop.

As well as buying the stores from the administrator, Alshaya also struck a deal with Limited Brands, the US-based owner of the La Senza brand, for the rights to the name in the UK. Its executive chairman, Mohammed Alshaya, said: "This is a strategic investment for us and a positive addition to our extensive international retail portfolio."

Alshaya operates more than 55 international brands in 19 countries, employing over 22,000 staff.

Independent Comment
blog comments powered by Disqus
Career Services

Day In a Page

'I may be deaf, but you can still talk to me'

'I may be deaf, but you can still talk to me'

Being a teenager is hard enough – for those with hearing loss, it can be even more complicated
A right royal trip down the river

A right royal trip down the river

A new exhibition celebrates the glory days of London's mighty Thames
The 10 Best lawn mowers

The 10 Best lawn mowers

From petrol-fuelled to self-propelled
Every second counts

Why does life appear to speed up as we get older?

Matilda Battersby finds out how the clock plays tricks with our minds
Couture on the Croisette: Fashion hits

Couture on the Croisette

The best outfits from the 2012 Cannes Film Festival
Child of the revolution: the Burmese family that democracy brought back together

Home of the free

The Burmese family that democracy brought back together
Cannes review: Canine accolade and Hitler's return are high spots amid the gloom

Cannes review

Frocks, canine accolade and Hitler's return
Robert Fisk: The going price of getting away with murder... would $33m be enough?

The going price of getting away with murder

Robert Fisk: The long view
Principled Skinner rises above the fray

Principled Skinner rises above the fray

Andy McSmith meets Dennis Skinner
Patrick Cockburn: I fear this terrible massacre will be the beginning of a long civil war in Syria

Patrick Cockburn

I fear this terrible massacre will be the beginning of a long civil war in Syria
Hardeep Singh Kohli: For me, it is all about 'Gregory's Girl', a record of first love

Hardeep Singh Kohli

For me, it is all about 'Gregory's Girl', a record of first love
Christian Louboutin: 'I don't think comfort equals happiness'

Christian Louboutin interview

'I don't think comfort equals happiness'
Happy birthday, Hotel Babylon!

Happy birthday, Hotel Babylon!

Hollywood's home to the A-list celebrates 100 years of discreet luxury
Rupert Cornwell: Low-rise capital could finally reach for the sky

Rupert Cornwell: Out of America

Low-rise capital could finally reach for the sky
The secret life of the red carpet

The secret life of the red carpet

As Cannes reaches its climax with the Palme d'Or and the celebrities gather in London for the Baftas tonight, Kate Youde and Jack Dean investigate the real star of the show