Greg Tufnell, managing director of menswear brand Peter Werth, has led a deal to rescue women’s young fashion brand Pink Soda from administration, and has outlined plans to add more brands to his Brand Acquisitions stable.
Brand Acquisitions, which is led by managing director Tufnell and chairman David Eades, a financial expert, bought Pink Soda this week with the support of investment firm Acuity Capital from administrator Portland Business & Financial Solutions. Tufnell said the first priority was to maintain delivery of autumn 09 orders to the brand’s 200-plus accounts. Stockists include Whistles, Harrods and Urban Outfitters.
He will also reinstate Pink Soda’s high street supply operation, which makes up about 50% of group turnover, as well as reorganising Pink Soda’s structure.
“We are very active. We like brands with a bit of traction, some distribution and proven turnover. Pink Soda has a great handwriting.”
Greg Tufnell, managing director, Brand Acquisitions
Pink Soda was founded in 1981 but the business hit difficulties last year after currency fluctuations and some poor paying wholesale accounts in Europe crippled the cash flow. It also owns the more upmarket Pink Soda Boutique range, but this is likely to be discontinued under Tufnell. Instead, Tufnell said he would look to take Pink Soda in a “younger and sexier” direction and would review the brand’s distribution. However, he stressed that a mix of branded multiples, quality independents and standalone stores would be key to the brand’s reincarnation.
Tufnell and Eades bought Peter Werth in January 2008. The Pink Soda deal sees them add womenswear to the Brand Acquisitions stable for the first time. Tufnell said the pair were keen to add more brands to the portfolio and that while Peter Werth was not showing at Bread & Butter Berlin, he would attend the trade show next month to scout for potential acquisitions.
Tufnell told Drapers: “We are very active. We like brands with a bit of traction, some distribution and proven turnover. Pink Soda has a great handwriting.” He added that he was in discussions with the brand’s founder and head designer Robert Rose about his future with the business.
Chairman David Eades said: “We are delighted to have made our second acquisition. Once again it is a well-known brand in its market, with the potential to grow and improve.”
Pink Soda stockists can contact Brand Acquisitions on 020 8805 9111.