Danish womenswear brand Masai is planning to expand its wholesale and retail business following its sale to private equity group Silverfleet Capital for an undisclosed amount last week.
The management team, based in Copenhagen and led by chief executive Sune Bjerregaard, will continue to lead the business and retain a minority stake.
Bjerregaard told Drapers the brand has the potential to boost its current stockists in the UK and Ireland from 360 to 600.
“A year ago we decided it was time to sell the business so we could expand further internationally. We had a lot of interest in the brand and were approached by many different investors. Masai’s biggest market is the UK and Ireland and this increases every year.
“Some of our key competitors have 500 or 600 stockists in the UK, so there is still room to expand as well as increasing the average order size.”
Bjerregaard said the business would look to sign up new accounts as well as increasing orders with existing stockists.
It said 66% of sales at the business come through the wholesale arm and he would like to boost this further by expanding in Germany, the Nordic countries, Holland and France.
The business has 18 shops: 12 in Denmark, five in Sweden and one in Norway. It will open more stores in these markets in the next couple of years.
Bjerregaard said there are no immediate plans to open UK shops, but he “might consider it” in the future.
Michael Busby, co-owner of womenswear independent Elizabeth Rose in Tenterden, Kent, which has stocked Masai for six seasons, said: “It sells out for us every season, so it’s a really successful brand for us. The formula works for us, so as long as it’s business as usual and they don’t change the shape and cuts, we’ll be fine.”