// Reiss’ Christmas sales rise while owner seeks a buyer for the chain
// Revenues in the UK up 15% during the festive period
// Owner Warburg Pincus bought a majority stake in Reiss for £100 million in 2016
Reiss has seen its Christmas sales rise while its private equity owner Warburg Pincus seeks out a buyer.
The fashion retailer saw group sales increase by 18 per cent in the seven weeks to January 18.
UK revenues jumped by 15 per cent during the period.
READ MORE: Auction of Reiss is on the table
In 2016, Warburg Pincus bought a majority stake in the business for £100 million, valuing Reiss at over £230 million.
The firm has now approached the investment bank Rothschild to find a buyer for the group.
“We are pleased that Reiss has performed strongly over the Christmas period, which is a continuation of the momentum we have seen throughout the whole of 2019,” Reiss chief executive Christos Angelides said.
“Looking ahead, as we start the new year, I am encouraged by the early sell-through of our spring/summer collections and the continued expansion of our business internationally.”
Reiss operates in 15 countries and trades from 69 standalone stores.