Arcadia brand Evans sold to Australia’s City Chic Collective for £23m

Arcadia’s Evans brand sold to Australia’s City Chic Collective for £23m
Deloitte said it would provide a further update on Arcadia's administration in the new year.
// City Chic Collective to acquire Evans’ brand, commerce and wholesale business
// Evans’ stores are not included in the sale and will continue to trade for time being
// Deloitte says it has received “significant expressions of interest” for Arcadia brands

Arcadia’s administrators on Monday announced the sale of Evans’ brand, commerce and wholesale business to City Chic Collective for £23 million.

City Chic will acquire Evans’ brand and intellectual property, its customer base and inventory under the terms of the deal which is expected to be completed on December 23.

Crucially City Chic will not be purchasing Evans’ store network, with Arcadia’s administrators at Deloitte stating that the stores would continue to trade for the time being.

READ MORE: Next in takeover talks with Arcadia Group

“The process to secure new owners for the other Arcadia Group brands is ongoing. There have been significant expressions of interest for all brands. The Joint Administrators expect to provide a further update in the new year,” Deloitte said in a statement to press on Monday.

Founded in 1930, Evans now has five standalone stores in the UK, with around 100 locations where Evans clothing is sold within larger multi sites and concessions.

The retailer sells plus-size clothing for women from sizes 14-32, as well as lingerie and accessories.

Deloitte noted that in the financial year to August 2020, the Evans website had 19 million visits and generated approximately £23 million of sales.

Although little-known in the UK, City Chic Collective operates as a global omni-channel retailer specialising in plus-size women’s apparel, footwear and accessories, with 96 stores across Australia and New Zealand.

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