FatFace
Company type | Clothing & Accessories |
---|---|
Key people |
|
Products | Clothing Footwear Accessories |
Revenue | 200 million GBP (2013)[1] |
Owner | Bridgepoint Capital (55%) Tim Slade (6%) Jules Leaver (6%) Fat Face Employees (13%) Other (20%) |
Website | www |
Fat Face is a British lifestyle clothing and accessories retailer, based in Hampshire. It was founded in 1988 by Tim Slade and Jules Leaver as a business selling T-shirts at ski resorts.[2][3] The company opened its first retail shop in 1993; as of 2014[update] there were 209 Fat Face stores in the UK and Ireland.[4][1]
History
The business was founded in 1988 in French ski resort Méribel by Tim Slade, a former policeman, and business graduate Jules Leaver. The pair bought T-shirts wholesale, had them printed with designs specific to the resort, and sold them to other skiers on the slopes - at first using the proceeds only to fund their own skiing.[3] They spent the following years travelling to different ski resorts, where they continued to produce and sell ski and outdoor-related clothing.[3] In 1993 they opened their first shop, on London's Fulham Road; they named it "Fat Face" after the Face de Bellevarde slope in Val-d'Isère.[3][4] In 2000, they sold 40% of the company to Livingbridge for £5 million.[5] In 2005 Advent International, a private equity company, bought Livingbridge's interest in FatFace.[6]
In 2007 Fat Face was acquired, for £360 million, by private equity group Bridgepoint Capital;[7] the sale netted Slade and Leaver £90 million.[8] The company's sales were badly hit by the Great Recession, forcing Bridgepoint to write off half the company's value,[8] but improved in 2010 and again in 2011,[9] and Fat Face returned to a small profit in 2012.[10] Bridgepoint planned to float a quarter of the company on the London stock exchange in 2014, hoping to raise £110 million, but later cancelled the flotation due to lack of confidence by prospective stockholders.[1][7]
The Chief Executive is Liz Evans, who joined in March 2019 replacing Anthony Thompson.[11] Evans had previously run Oasis/Warehouse.[11] In 2013 Bridgepoint hired former Marks and Spencer Chief Executive Stuart Rose to be FatFace's Chairman; Rose replaced Alan Giles as Chairman.[10][12]
References
- ^ a b c Gareth Mackie (10 July 2014). "Fat Face profits rise despite flotation u-turn". The Scotsman. Retrieved 14 July 2014.
- ^ James Hall (22 January 2010). "Asda clothing boss Anthony Thompson defects to Fat Face". The Daily Telegraph. Retrieved 14 July 2014.
- ^ a b c d
"The ski bums who understood the bottom line". Financial Times. 20 January 2014. Retrieved 14 July 2014.
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ignored (help) - ^ a b Jonathan Prynn (2 September 2004). "Fat Face pair could scoop £35m". London Evening Standard. Retrieved 14 July 2014.
- ^ "Isis set to land £20m in Fat Face market listing". The Scotsman. 7 February 2004. Retrieved 14 July 2014.
- ^ "Fat Face bought". Retail Week. 9 May 2005. Retrieved 14 July 2014.
- ^ a b Scott Campbell (9 July 2014). "Fat Face reports sales rise after abandoned IPO plans". The Daily Telegraph. Retrieved 14 July 2014.
- ^ a b Richard Fletcher (15 March 2010). "Fat Face loses £225m on write-offs". The Daily Telegraph. Retrieved 14 July 2014.
- ^ "Fat Face : company profile". Retail Week. Retrieved 14 July 2014.
- ^ a b "Former Marks & Spencer boss Sir Stuart Rose to be named new chairman of fashion chain Fat Face". This is Money. 3 February 2013. Retrieved 14 July 2014.
- ^ a b Singh, Prachi (18 October 2018). "Liz Evans to join Fat Face as CEO in January 2019". fashionunited.uk. Retrieved 23 January 2020.
- ^ Jahshan, Elias (15 April 2019). "Lord Rose warns Mike Ashley over retail "oligopoly" ambitions". www.retailgazette.co.uk. Retrieved 23 January 2020.
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