(Filed Under retail Lingerie News). Kuwait-based retail franchise operator M.H. Alshaya Company has acquired the rights to the La Senza brand in the U.K. and 60 retail stores.
Third-party accounting firm KPMG became the administrators of La Senza in December and oversaw the sale of the stores and brand from Lion Capital to Alshaya. In a statement, executive chairman Mohammed Alshaya called the acquisition "a strategic investment for us and a positive addition to our extensive international retail portfolio." The Kuwaiti company said it plans to invest approximately $155 million in the U.K. retail market over the next two years.
La Senza has closed 102 retail outlets in the U.K. Alshaya is a franchise partner for more than 55 brands in 19 countries in Europe and the Middle East.
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