Drapers rounds up the events that directly preceeded the £1.9bn deal that saw high street fashion retailer New Look change hands.
New Look sold in £1.9bn deal - May 15
New Look is sold to South African billionaire Christo Wiese in a deal that values the young fashion retailer at £1.9bn.
New Look poaches H&M’s menswear chief - April 23
New Look appoints H&M’s chief operating officer for menswear, Christopher Englinde, as its new menswear design director.
Chinese investors in talks to buy New Look - April 20
New Look’s private equity owners reportedly hold talks with one of China’s largest investors Fosun, which took a 5% stake in Thomas Cook in March, and Chinese private equity funds CDH and Citic Capital.
New Look chief executive Anders Kristiansen reveals moving the business away from its focus on the UK was his biggest retailing challenge to date.
New Look agrees to take a 31,800 sq ft store on the eastern end of London’s Oxford Street in a building due to be completed in April 2017.
New Look recruits Wall Street investment bank JP Morgan to work on a stock market listing that was thought to value the fashion retailer at as much as £2bn.
Analysts say New Look could float on the London Stock Exchange before May’s general election but would probably fall short of its “ambitious” £2bn target.
New Look boss moots IPO as menswear push continues - February 11
New Look chief executive Anders Kristiansen hints that the retailer is “strong enough” to make another attempt at a stock market flotation, but says the decision rests with its private equity owners.
Sales down at New Look as warm weather strikes again - February 10
New Look reports a 1.7% drop in sales for the three months to December 27 as the warm autumn weather hits another high street retailer. It says sales in the UK dropped 1% for the period, however online sales soared 28.6% during the quarter.