AllSaints’ majority investor Lion Capital is looking to triple the size of the retailer under incoming chief executive William Kim.
Kim starts at the business on October 15, joining from Burberry where he was senior vice president of retail and digital. He plugs the gap left by Stephen Craig’s departure a year ago.
Lion Capital partner Lyndon Lea told Drapers AllSaints had now accrued reserves totalling £20m, and planned for Kim to deploy the cash for expansion.
“We are looking to grow this thing – I want to triple the size of the this business – and that is why we reached out and made such a hire,” he said. “We were able to attract him through the expansion plan.”
Lea said he would be signing leases for new stores in Canada shortly, following trips to both Toronto and Vancouver. He has also been scouting for suitable opportunities in Tokyo.
“We don’t have any limitations in terms of expanding,” he said. However, Lea added that consolidation in existing markets was very much the priority.
Describing Kim as “one of the most impressive retailers I have come across”, Lea said he expected the new chief executive to take AllSaints “to the next level”.