Seraphine news and archive

Next rescues Seraphine from administration, upgrades full year profit guidance

Next is continuing its acquisition spree. The British retail giant has bought maternity brand Seraphine out of administration and, as a result, 95 employees have been made redundant. The deal, valued at 600,000 pounds, includes certain assets of the Seraphine business, including the brand and intellectual property. Next said it intends to “...

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From New Look to Select Fashion: Inside the retail collapse threatening the UK high street

The UK retail landscape continues to face mounting challenges. Amid rising operational costs, the long-tail impact of the pandemic and ongoing supply chain disruptions, many businesses are navigating an increasingly volatile environment. An uncertain outlook remains for a significant portion of the sector – and the country is on track to see a...

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Next and Frasers said to be in running for Seraphine rescue deal

Following Seraphine’s descent into administration last week, speculation over potential saviours are beginning to swirl. Among them, British retail giants Next and Frasers Group are said to be frontrunners in potential deals to rescue the maternity wear brand. According to sources for Drapers, dubbed “several industry veterans”, the two firms...

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Seraphine appoints administrators

British maternity brand Seraphine has collapsed into administration and appointed Will Wright and Chris Pole from Interpath as joint administrators. In a statement, Seraphine said it had been experiencing “trading challenges” in recent years, which have been “exacerbated by fragile consumer confidence which had negatively impacted sales”. The...

Business

Seraphine to explore strategic investment options as it eyes growth

Maternity brand Seraphine has commenced a process to identify a new investor as it looks towards its next phase of growth. The process is being overseen by advisors at Interpath, the firm confirmed to FashionUnited, with a variety of options being mulled, including, but not limited to, a new investor or a full sale. The news shortly follows...

Retail

Seraphine Maternity to open first store in Los Angeles

British maternity brand Seraphine is opening its first store in Los Angeles, California, bringing its US store count to three as it continues to expand its retail presence. Seraphine’s LA boutique will be located at 9619 Brighton Way, Beverly Hills, CA 90210, in the heart of Beverly Hills, right off Rodeo Drive, and will be the brand’s “most...

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Seraphine buyout and delisting to take place in April

Seraphine has confirmed that it is planning to delist from the London Stock Exchange this month after Purple Bidco, a subsidiary of Mayfair Equity Partners, reached an agreement to acquire over 95 percent of shares in the maternity brand. The offer is expected to close on April 6, when Bidco said it intends to begin the implementation of the...

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Maternity brand Seraphine looking to be taken private

The board of British maternity and nursing brand Seraphine is recommending its shareholders accept an offer to be taken private. The company announced Friday it has reached an agreement on the terms of a cash offer by Bidco, a wholly-owned indirect subsidiary of funds managed by Mayfair Equity Partners. The offer of 30 pence per share values the...

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Seraphine FY revenue up, but pretax loss widens

Seraphine has reported a widening pretax loss in what was a “challenging year” for the British maternity and nursing brand. In the 12 months to April 3, the company made a pretax loss of 36 million pounds compared to a loss of 3.8 million pounds a year earlier. Meanwhile, its adjusted EBITDA fell to 2.6 million pounds from 6.2 million pounds,...

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Maternity brand Seraphine acquired in 50 million pound deal

UK maternity and nursing brand Seraphine has been acquired in a management buyout led by tech and consumer growth investor Mayfair Equity Partners in a deal valuing the company at around 50 million pounds. Mayfair acquired the company from Bridgepoint Growth and entrepreneur founder Cécile Reinaud who launched the brand back in 2002 as a...

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Seraphine names new CEO

Maternity wear brand Seraphine has promoted David Williams from chief operating officer to chief executive officer. Williams, previously a director at Asos, was instrumental in the company's growth during the first half of the year with a 30 percent increase in sales. He takes over for Seraphine founder Cécile Reinaud. “It’s an honor to take...

Retail

UK's Seraphine opens maiden India store in New Delhi

UK-based maternity wear brand Séraphine has opened its first India store in New Delhi. This brand opened 17 years ago looks to merge style with adaptability, looking at a two-year period, from pregnancy to feeding. Whether it’s leather pants or a ball gown, the brand has it all. All the styles adapt to changing bodies – some dresses have elastic...