Monday, 20 April 2015

Very Pretty Green Deal

The former Oasis frontman, Liam Gallagher, is planning to raise funds for his upmarket men’s fashion label, Pretty Green, to expand around the UK and overseas. The singer launched the business in 2009 and has hired the investment bank Cantor Fitzgerald to look at his options. Interested private equity firms are said to be valuing the business at about £20m based on its underlying annual profits of about £2m. Although he has said in promotional material for the company that he does not consider it as a “business”, that would value Gallagher’s stake at around £6m. According to reports, Pretty Green had like-for-like sales growth of 33 per cent over the Christmas trading period. Accounts for the company show that it made a loss of £2m in 2013 on revenues of £10.9m.