Chip Wilson, founder of Lululemon, has lured several old colleagues back to the company’s board and, as an incentive, he plans to sell them half of his 27.7 per cent stake in the sportswear retailer.
Fifth & Pacific Cos Inc. is said to be involved in late-stage talks to sell off its fashion and denim label Lucky Brand to Advent International, a US private equity firm.
The deal by Wiggle majority shareholder Isis Equity Partners is “as good as done” according to Sky News, who reported on the expected appointment of UBS this morning. The news will bolster rumours that a floatation could be on the cards for the bike etailer, which could be valued in excess of £200 million.
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