In the Style to Be Sold for £1.2m
British clothing brand In The Style has launched a sale process as it looks for potential buyers amid growing financial pressures. The Manchester-based company is seeking offers for the business and its assets, with a £1.2m asking price.
Increasingly challenging trading conditions
In The Style was founded in 2013 by Adam Frisby and James Hurn. However, the company has faced increasingly challenging trading conditions in recent years due to changes in consumer shopping habits and the impact of the COVID-19 pandemic. It now aims to sell the brand and related intellectual property to a new owner.
Offers sought for business and assets
The company has appointed business brokers BDO to handle the sale. They are seeking offers for the whole business as a going concern or its individual assets, including the brand, website, customer database and inventory.
Rapid growth but profitability challenges
In The Style grew rapidly after launching, reaching a revenue of £40m in 2018. However, the company has yet to achieve profitability and has accumulated losses of over £30m. The sale process is aimed at finding a buyer to continue operating the business on a solvent basis or break up and sell the assets.
Adam Frisby, In The Style co-founder, said: “The retail environment continues to be challenging and uncertain, and after exploring various strategic options, the board has concluded that a sale of the business is the best option to secure its future. We remain committed to finding a buyer who shares our vision and passion.”
BDO partner Dean Blackley added: “In The Style is a well-known brand with a loyal customer base and ambition for growth. Despite economic pressures, there are opportunities for a new owner to invest in the business and take advantage of potential in the premium apparel market.”
