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Following the recent news that Blue Inc has taken on 46 The Officers Club stores after the latter fell into administration in March 2011 FSP has reviewed and updated the retailer records on SnapShop . Below is a summary of the retailer profiles and highlights of the acquisition:
• On 29th March 2011 – The Officers Club fell into administration for the second time in just over two years, leaving hundreds of jobs at risk.
• On 29th March 2011 - Blue Inc bought 46 stores out of administration, in a deal thought to be worth about £5m. The deal was announced, the same day The Officers Club appointed Grant Thornton as its administrator.
• On 31st March 2011 – It was announced that stores bought are expected to add between £25 and £30m of sales to Blue Inc’s turnover, bringing its revenues up to about £80m.
Retailer Profile - Blue Inc.
Established in 1912, Blue Inc. is a menswear retailer with over 140 stores in the UK with annualised sales of £80m. It is positioned in the Lower Middle sector of the market with a focus on Young Safe fashion, and brands stocked include Kickers, Base and Ben Sherman. 80% of store offering is own brand, and Blue Inc Woman is available in selected stores. Blue Inc is the trading name of A Levey & Son Ltd which was bought by Marlow Retail in January 2006. In November 2010 it was announced that the retailer is seeking retail units with a sales area of 2,500 to 4,000 sq ft in cities and smaller to mid-sized towns.
Retailer Profile - The Officers Club
The Officers Club was established in 1998 and has since grown to become one of the largest independent menswear retailers in the UK, with around 110 branches (before administration) nationwide. The offering was situated in the Lower Middle/Value sector of the markets with a focus on Family Safe fashions; however, a refocus of the business in the last 5 years now sees it targeting the "fashion savvy males” in the 16-25 year-old market.
More information and analysis is available to SnapShop Members. You can subscribe to SnapShop online at any time.
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