Outfit Acquisition Opportunity
Hilco Streambank is seeking offers to acquire the intellectual property assets of Outfit Retail Limited (in Administration) (the “Company”) on behalf of its Joint Administrators Matthew David Smith, Daniel Francis Butters and Gavin Maher, all of Deloitte LLP (the “Joint Administrators”).
Hilco Streambank is seeking offers to acquire the “Outfit” brand and related intellectual property assets.
Outfit was the ultimate out-of-town one-stop-shopping destination providing unprecedented access to Arcadia Group’s famous brands, alongside a range of other third-party brands and the Outfit Kids own-brand, in a single store location. The product offering spanned menswear, womenswear, shoes and accessories.
From the first store opening in Nottingham in 1995, Outfit gained traction with consumers. In 1999, the business became part of the Arcadia Group within which the brand continued to grow rapidly. In 2007, Outfit introduced a new store concept devised by reputable design agency Dalziel & Pow. The retail park concept and attractive store design proved a successful formula, offering a convenient alternative to the traditional high-street experience, particularly during the Covid-19 pandemic which has seen spacious retail park settings with convenient parking favoured over city centre locations.
Outfit historically offered the full multi-channel experience via the extensive network of Outfit stores as well as the Arcadia Group’s former brands’ individual websites, and drove a significant level of business through its Collect-from-Store, Order-in-Store and Pick-from-Store services.
Prior to Administration, the Company operated 77 “Outfit”-branded stores nationwide.
In the twelve months to February 2020, sales of £131.5m originated in Outfit stores.
This is a unique opportunity to acquire a major UK retail brand.
The Outfit brand name is widely recognised and highly regarded. The Outfit brand has been established for over 25 years and held a prominent place in the UK retail scene.
Outfit is known as a top fashion destination designed with the consumer in mind, historically collating the biggest high street fashion brands all under one roof as a leading multi-brand retailer.
Outfit also proudly delivered excellent customer service. Outfit Style Advisors would offer personalised styling services to customers with a dedicated area in store.
The brand was promoted by marketing activity including social media initiatives through which Outfit provided outfit inspiration, offers and competitions. Outfit encouraged customers to share their own and their kids’ styles using the #InMyOutfit and #WeAreOutfitKids hashtags. The former Arcadia brands stocked by Outfit were supported by both celebrities and social media influencers alike, benefitting the Outfit retail brand by association.
Outfit also partnered with numerous children and young people’s charities. It fundraised and organised events on behalf of Rays of Sunshine and Teenage Cancer Trust and launched a “Right to Be Me” charity sweatshirt range in support of Childline, all enhancing the Outfit brand.
The brand has attracted significant media coverage.
Outfit Kids Brand
Launched in September 2017, the Outfit Kids product brand is associated with a collection of fun and fashionable apparel styles for children aged 18 months to 12 years. Attractively priced from £7-£45, the Outfit Kids product range offered quality, value and style.
The Outfit and Outfit Kids brand names and logos are protected by a number of UK and international trade marks.
The Company has a portfolio of outfit-branded domain names, including the primary outfitfashion.com domain name:
A strong social media presence supports the Outfit brand:
Facebook – @OutfitFashionUK c. 125.3k followers
Instagram – @outfitfashionuk c. 25.3k followers
Twitter – @OutfitFashionUK c. 7.2k followers
Offers for the intellectual property assets are due May 26, 2021 at 4pm BST.
All expressions of interest and offers should be directed to Hilco Streambank in writing. A Bid Submission Form for submitting offers is available on request.
For details of the related Arcadia intellectual property sale, see our further listing here.
KEY TERMS & CONDITIONS
The bidder acknowledges that Hilco acts as an agent for the Joint Administrators of the Company who offer for sale only what right, title and interest the Company possess in the assets. The information provided has not been verified by Hilco and bidders are deemed to have carried out their own due diligence.
VAT at 20% will be added to the price if applicable. A buyer’s premium of 10% applies to this sale. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank’s full Terms and Conditions apply.