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Select takes 18 Internaçionales for 300-store portfolio bid

Value fashion retailer Select has scooped up nearly 20 former Internaçionale stores so far as part of its bid to build a portfolio of 300 stores by the end of 2016.

Select has agreed deals on 12 Internaçionale stores, which have been gradually reopening with the Select fascia since mid-April, including units in Grantham in Lincolnshire, Cardiff, Sunderland, Swansea and Rochdale.

It will open a further six – including Haverfordwest in Wales, Weston-super-Mare, Burnley and Plymouth – before the end of the year.

The fashion chain is understood to be negotiating on a further package of stores, but declined to reveal how many more could be added to its portfolio. Drapers revealed in March that Select was bidding for some of the 89 Internacionale stores, after the latter went into administration in February.

All the remaining 89 Internaçionale stores are now understood to have been closed following the administration.

Select will open 17 new stores before the end of 2014, taking its total store portfolio to around 170, and plans to open about another 50 next year. In the 2014 calendar year, Select plans to have opened, re-sited or extended 34 stores and closed six.

Managing director Cafer Mahiroglu told Drapers the retailer’s like-for-like sales for the first six months of the year increased by 35%. He said this was partly due to a successful advertising campaign on public transport including buses, the London Underground and trains.

• Interest in the intellectual property of Internaçionale – including its trademark, customer database and website content – has reached double figures with parties understood to include high street retailers such as Edinburgh Woollen Mill, private equity companies with retail portfolios and an Asian fashion group.

Intellectual property specialist Metis Partners is handling the sale of the Internaçionale IP. The deadline for offers is on August 8.

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