JD buys Nicholas Deakins
- Published: 09 May 2008 14:02
- Author: Laura Weir
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- Last Updated: 09 May 2008 14:02
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The John David Group has snapped up premium footwear and clothing brand Nicholas Deakins.
JD has invested in the brand, which was founded by Craig Nicholas Tate 17 years ago, to bolt on to its expanding brands-to-retail empire and will back its ambitions for overseas growth.
Tate said he had opted to sell to JD because he was attracted by the management style of the group's chairman, Peter Cowgill.
Tate will continue as managing director and will also retain responsibility for the balance sheet. "We will still be based in Leeds and I'm still responsible for profit and turnover," he said. "I've built up a good balance sheet but there is a limit to funding."
JD will also finance a high-profile marketing push and support the brand's expansion into southern England.
Tate reassured his 130 UK stockists that it was business as usual and that they would see sales improve under the new marketing strategy. Nicholas Deakins is already stocked in JD's Scotts and Bank chains.
Nicholas Deakins has sold footwear for the past 32 seasons. It launched a clothing collection in spring 07. It will show its first forward order clothing range at trade fair Bread & Butter in Barcelona, which takes place from July 2-4.
