Next & group of investment companies purchase JoJo Maman Bébé
Category: #retail  By Pankaj Singh  Date: 2022-04-18
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Next & group of investment companies purchase JoJo Maman Bébé

JoJo Maman Bébé, a maternity wear and baby clothing retailer, has reportedly been purchased by high-street firm Next along with a group of investment firms.

Next has acquired nearly 44% of the company’s shares, whereas the remaining 56% were taken by investment firms advised or managed by the hedge fund Davidson Kempner Capital Management.

Laura Tenison, who initiated the business in 1993 and turned it into one of the leading baby and mother retailers in the United Kingdom, stated that the incoming owners had prosperous plans to proliferate the brand faster than expected. However, she will leave the business as part of the new deal where the shares were purchased from current JoJo shareholders including Tenison.

The company informed the staff that the incoming owners are interested to keep the stores that are reaping profits and there might be opportunities for new international websites and more stores.

The value of the agreement has not been revealed, and it is unknown how much Tenison received for het stake in the business.

Speaking on the deal, Tenison stated that she prioritized growing the brand from a kitchen table company to being one of the leading specialist boutiques in the United Kingdom over the past three decades. She is proud of the company’s achievements and is delighted by the opportunities this new collaboration will offer to the future of the brand.

Tenison asserted to the staff that Next as well as other companies needed to retain the brand values, identity, and talent whilst enabling JoJo to take advantage of the economies of scale.

Interestingly, The Duchess of Cambridge Kate Middleton wore a white maternity coat from JoJo Maman Bébé several times and purchased several products for Princess Charlotte. Apart from its websites, JoJo Maman Bébé has around 87 retail stores and employs over 950 people in the United Kingdom.

Source credits:

https://www.theguardian.com/business/2022/apr/17/next-and-group-of-investment-firms-buy-jojo-maman-bebe



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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