Shoosmiths advises AK Retail on acquisition of clothing brand Evans
August, 2023 - Milton Keynes, England
Law firm Shoosmiths has advised AK Retail on the acquisition of plus-size clothing brand Evans from Australian retailer City Chic in an £8m deal.
Yours Clothing, owned by AK Retail Holdings Limited (which also owns M&Co, Long Tall Sally, BadRhino and Pixiegirl), has acquired the Evans brand, intellectual property, and customer base through the agreement. The asset purchase of the 93 year old Evans brand is expected to create up to 100 jobs in the future.
City Chic retains the right to trade under the City Chic, Avenue and other non-Evans brands in EMEA in the near future. There will be a transition period for Yours to sell all non-Evans branded product and for City Chic to sell its remaining Evans-branded product in ANZ and North America.
Partner in the firm’s corporate division, Sarah Teal, led the deal, supported by senior associate Hannah Gaskell and principal associate Hollie Wrigley.
Sarah, said:
“We were pleased to support AK Retail on this important acquisition of a much-loved British brand and wish the brand every success in the future."
