The British luxury independent powerhouse for menswear ‘End’ is all set to be bought by a private equity firm.
The Carlyle Group, reportedly, will be buying the majority stake in the retailer for an amount that hasn’t been disclosed as yet.
Notably, John Parker and Christiaan Ashworth, who had founded End back in 2005, will retain significant part of minority stake and continue as Co-CEOs.
This would also mean that Index Ventures, which is currently holding minority stake in End, will be fully exiting the retailer.
The Carlyle Group has stated that it will help enhance End’s growth plans both in the UK and across the globe.
Here it is important to mention that equity for investment will be provided by Carlyle Europe Partners (CEP) V– a €6.4 billion fund to invest in European opportunities across a wide range of sectors and industries.
Additionally, there will be investment from an affiliate of Carlyle Asia Partners (CAP) V, which will focus on buyout and strategic investments across sectors in the Asia-Pacific region.
The deal is expected to complete on 1 April 2021 (Thursday).
Known majorly for its apparels and footwear, End was one of the first independents to perfectly blend high-end luxury wear with streetwear.