News: Waterfront advise private investors backing management buyout of BrandAlley UK
Jan 24, 2013
Earlier this month online retail company BrandAlley UK, the leading UK fashion private sales site, successfully completed a management buyout, backed by private investors, from its existing shareholders News International and BrandAlley France. Waterfront client and one of the private investors who backed the MBO, Bruce MacInnes, previously Chairman of sports data group, RunningBall, and head of TMT Investment Banking at Investec, will become the new Chairman of BrandAlley UK. The BrandAlley business model and management team will remain the same with the key focus on developing their lifestyle offering of fashion, beauty and homeware at great prices for savvy shoppers. The company will continue to foster its relationships with brands, building on BrandAlley's already exceptional customer service, and optimising the performance of the database as well as mobile and social offerings. BrandAlley CEO Rob Feldmann said:
"As we set out on a new path as an independent company, we will look to build upon our success to date and continue to offer our members the best brands at fantastic prices. We are delighted to have the expertise of Bruce MacInnes as Chairman as we move into the next phase of our development. These are exciting times for everyone involved with BrandAlley."
"BrandAlley is a strong UK brand with a fantastic consumer offering. We attracted more than 70,000 new customers to our site last year, and our mobile site generated over 15 per cent of revenue. We are committed to building a first class, multi-channel platform and expanding our database of wealthy, savvy shoppers.”
Bruce MacInnes, Chairman of BrandAlley added:
"I have been impressed by BrandAlley’s track record and I believe the company has enormous potential to continue to pioneer a retail offering which meets consumer needs and shopping habits. We have a tremendous opportunity to capitalise on the company’s leading position in the market.”
BrandAlley was launched in the UK as a joint venture between BrandAlley France and News International. The company pioneered the designer flash sale model in the UK and this year launched Outlet, a permanent designer catalogue which now accounts for 12% per cent of total sales. Media and technology focused corporate finance advisory firm Clarity acted as financial advisor and Taylor Wessing acted as legal advisor to News International and BrandAlley France.