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The business continues to be run independently by founders Liz Houghton and Lisa Agar-Rea, who remain invested.”In the year to April 2018, sales for Sabre Retail Fashion, Mint Velvet’s parent company, rose 15.5% to £101m as it traded from 165 locations including 40 standalone boutiques.
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In the year to April 2018, sales for Sabre Retail Fashion, Mint Velvet’s parent company, rose 15.5% to £101m as it traded from 165 locations including 40 standalone boutiques.
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Lewis family says investment reflects high confidence in the business, brand and peopleThe family behind the River Island clothing chain has taken control of Mint Velvet, the fashion label founded by three former Principles executives, in a deal understood to value the company in excess of £100m.The co-founders Peter Davies, Liz Houghton and Lisa Agar-Rea will share a multimillion-pound payout from the deal with the Lewis Trust Group (LTG).It is a second fashion fortune for Davies, who previously rescued and sold Principles and Warehouse, LTG, which also owns stakes in the Everyman cinema chain and the San Francisco-based fast fashion label Dolls Kill, first bought a stake in Mint Velvet in 2015.
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