The stake held in Cath Kidston by TA Associates has been acquired by Baring Private Equity Asia amid news that the British brand will now forge ahead with expansion in Asia. Baring had invested in Cath Kidston some two years ago when it acquired a 40 per cent stake. The latest move sees it acquire a further 40 per cent, leaving founder Cath Kidston with about 11 per cent and the incumbent Cath Kidston management team with the balance of around 9 per cent.
The brand has just released a new collection based on Winnie the Pooh in collaboration with Disney and this saw it achieve its best ever full price online sales day. The retailer currently operates 226 stores, 70 per cent of which are overseas, 133 of which are in Asia. There are plans to open in India for the first time later this year.
Bill Flanz has been appointed as Cath Kidston’s new chairman.
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