Shoe retailer Office up for sale
05/07/2010
West Coast Capital bought the retailer in 2003 for about £16m. It has since expanded from 21 stores, mainly in London, to a presence of 125 outlets throughout the UK.
Office has achieved good results in spite of tough economic conditions. In the first three quarters of the last financial year, it increased revenue by 29% to £145.6 million and pre-tax profits by 148% to £15.6 million.
“When we acquired Office it had the potential to go nationwide and ultimately be an international brand,” said Brian McCluskey, chief executive, who said he and the management team were committed to stay on if a sale went ahead.
“We’re the best in the UK for our target market so in the past few years we’ve been encouraged by suppliers to look internationally,” he added.
Office already has one international store, a concession in Topshop’s New York branch.
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