UK`s River Island acquires Mint Velvet in £100m deal

Fashion

UK`s River Island acquires Mint Velvet in £100m deal

29 Mar `19

1 min read

Pic: River Island

The Lewis Trust Group (LTG), the parent firm of London-based high street fashion brand River Island, has acquired British fashion brand and retailer Mint Velvet in a £100 million deal. Owned by the Lewis family, LTG in 2015 bought a stake in Mint Velvet, whose parent firm is Sabre Retail Fashion, but unveiled its plans to take control of the brand recently. Mint Velvet co-founders Peter Davies, Liz Houghton and Lisa Agar-Rea will share a multi-million-pound payout from the deal, according to British media reports.The Lewis Trust Group (LTG), the parent firm of London-based high street fashion brand River Island, has acquired British fashion brand and retailer Mint Velvet in a £100 million deal. Owned by the Lewis family, LTG in 2015 bought a stake in Mint Velvet, whose parent firm is Sabre Retail Fashion, but unveiled its plans to take control of the brand recently.# Mint Velvet was initially launched as House of Fraser and John Lewis concessions in 2009. (DS)

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