Touker Suleyman, the owner of Jermyn Street shirtmaker Hawes & Curtis and womenswear brand Ghost, is on the lookout to acquire or invest in major high street suppliers in a bid to create a single “powerful” supply arm.
Suleyman hopes to make the acquisitions through his Low Profile business, which he founded in 1978. It supplies womenswear to major retailers, including Marks & Spencer, and has manufacturing sites in Turkey, Georgia and Bulgaria.
Speaking to Drapers, Suleyman, who is chairman of Low Profile, said the group was predominantly on the hunt for London-based womenswear suppliers with a turnover of more than £3m a year.
Low Profile will move into bigger offices in December and could therefore accommodate one or two additional businesses, he explained.
He added: “My strategy is to have businesses under one roof and share overheads. More and more retailers are demanding more from their suppliers and suppliers are getting pushed to create good prices. My argument is to have one overall [company] with lots of companies underneath.
“I believe we could have a powerful arm with lots of different customers. We’ll bring them under us, and they can use our infrastructure.”
Suppliers including Low Profile and Israeli tailoring specialist Bagir are understood to have made redundancies as a result of M&S’s strategy of directly sourcing 60% of its clothing.
Suleyman bought Hawes & Curtis in 2000 and has expanded its retail portfolio to 28 stores in the UK. He rescued Ghost from administration in 2008. Earlier this year he was revealed as one of the new judges on the forthcoming series of BBC One’s Dragons’ Den.