// The Carlyle Group acquired a majority stake in End
// The sportswear retailer’s founders Christiaan Ashworth and John Parker will retain “a significant minority stake and remain co-chief executives of the company”
// Index Ventures, which currently holds a minority stake, is selling its holding and will fully exit
End has announced that global investment firm The Carlyle Group acquired a majority stake in the business following recent exits from Golden Goose and Supreme.
The sportswear retailer’s founders Christiaan Ashworth and John Parker are selling control to Carlyle but will retain “a significant minority stake and remain co-chief executives of the company”.
Index Ventures, which currently holds a minority stake, is selling its holding and will fully exit.
The transaction will close on April 1.
End was founded in 2005 and is now a multi-brand, digital-led operation that focuses on “luxury and contemporary fashion and the best in sneakers and streetwear”.
Carlyle said its interest in End came as it “has developed a highly engaged and loyal customer base through its exclusive collaborations and its unique omnichannel offering, including its online platform, mobile apps and physical stores”.
For the year to the end of March 2020, End generated revenues of £170 million, 65 per cent of which came from outside of the UK.
Ashworth and Parker said Caryle’s “experience and strong track record in luxury and streetwear will be invaluable to us in supporting End’s long-term and sustainable growth strategy”.
Carlyle head of Europe Massimiliano Caraffa, added: “We are attracted to End’s distinctive style. We are excited by the many growth opportunities that lie ahead for the company, including the launch of womenswear as well as further international expansion.”
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