In November 2011, Next Capital executed the acquisition of a majority interest in Next Athleisure with the founder and CEO retaining the remaining interest.
Next Athleisure operates in the youth apparel industry in Australia through its Glue Store (leading streetwear multi brand retailer) and Trend Imports (apparel wholesaler) businesses (www.gluestore.com.au). Next Athleisure also has joint ownership in the company with the franchise rights to operate the Topshop business (leading international fashion retailer) in Australia.
Investment highlights include:
- Well-positioned business with an established reputation in the Australian youth-oriented retail segment
- Significant upside potential from establishing the Topshop business in Australia given its internationally successful business model and strong local brand recognition
- Diversified portfolio of products and brands
- Experienced senior management team with a history of driving substantial value creation in retail businesses