Peter Lucas and Arafa Holding, the former owners of collapsed menswear chain Suits You, have acquired 12 of its 66 stores via their menswear supply business, Baird Group, and relaunched them as Suit Direct.
Egyptian menswear supplier Arafa owns a majority share in Baird Group, and Lucas, Baird Group’s chairman, owns the remaining shares. Arafa and Lucas bought the Suits You stores from administrator Zolfo Cooper this month for an undisclosed sum.
Suit Direct has been trading as an etailer for about a year and is owned by Baird Group. Its new bricks-and-mortar operation will stock menswear brands, including Jeff Banks, and have hire departments under the Young’s Hire operation, also owned by Baird Group. It will also offer made-to-measure services.
The 12 stores trade in designer outlets in locations such as York and Swindon. Lucas said that, despite the closure of his former chain, Suit Direct would be successful as it had a “different kind of business model”.
He said: “The Suits You model was heavily discounted. Suit Direct is about good-quality brands. It will be presented differently and it won’t be as price led.”
Lucas was chairman of Speciality Retail Group, the business that operated Suits You - which was backed by Arafa - until October last year, when Arafa sold the chain to restructuring specialist GA Europe. It was subsequently put into administration and Suits You was shuttered.