LA SENZA RESCUED: Alshaya, the Kuwait-based retail franchise operator, has acquired the rights to the La Senza lingerie brand in the U.K. and 60 of its stores. The lingerie retailer’s previous owner, Lion Capital, said last month that La Senza would enter into administration, the U.K. equivalent of Chapter 11. On Monday, KPMG was appointed administrator, and then it immediately sold the 60 stores and U.K. rights to the La Senza brand to Alshaya. The Kuwait company said the deal and its subsequent plans for the La Senza business represent “a planned investment of around 100 million pounds [$154 million at current exchange] in the U.K. retail sector over the next two years.” The deal will also secure around 1,100 jobs.
La Senza originally operated 162 stores in the U.K., and the other 102 stores and concessions are now closed. Alshaya said that it plans to work closely with Limited Brands, the global owner of the La Senza brand, to deliver “an enhanced La Senza customer experience in the U.K.” Alshaya already acts as a franchise partner for many of Limited Brands’ companies, including Victoria’s Secret, Bath & Body Works and La Senza in countries such as Kuwait and Russia.
This story first appeared in the January 10, 2012 issue of WWD. Subscribe Today.