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Reiss owner mulls sale

The American owner of premium retailer Reiss is considering selling off its stake in the business.

Private equity firm Warburg Pincus, which bought a majority stake in the retailer in 2016, has appointed investment bank Rothschild to review potential options, including a sale. 

“At some point you would expect a financial investor to consider ways in which to realise its investment, but the rumours of Warburg Pincus selling have been rumbling on for a year or so”, a source close to the situation told Drapers. 

The news comes after a period of strong trading for the retailer. In its most recent results, Reiss reported 8.3% growth in sales to £186.3m for the year to 2 February 2019, and a 21.3% rise in EBITDA to £19.3m.

Rumours emerged of a potential sale in May 2019, but at the time were denied by Reiss.

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