Royal maternity-wear favourite Seraphine sold in £50m management buyout
A posh maternity-wear brand which is a big favourite of the Duchess of Cambridge has been sold for £50million.
The bosses of Seraphine, which was set up as a shop in Kensington, London, by French entrepreneur Cecile Reinaud in 2002, have bought it with backing from private equity group Mayfair Equity.
Seraphine shot to attention in 2013 when the Duchess wore one of its fuchsia dresses in the first official pictures of Prince George.
The Duchess of Cambridge and her sister Pippa Middleton (pictured) have both been pictured in Seraphine maternity wear
The dress sold out in two hours. Other fans include the singer Sophie Ellis-Bextor, Pippa Middleton, and actresses Mila Kunis and Anne Hathaway.
Princess Eugenie was spotted at its Kensington store last month. Seraphine made profits of £4.7million in the year to March 31 on turnover of £28million.
Revenues have surged almost a third through the pandemic because 90 per cent of sales are online.
To grow its online arm, in 2017 Asos digital whiz David Williams was hired as operations head.
He became company chief executive last year and has led the management buyout from private equity group Bridgepoint.
Reinaud, 47, has sold most of her 33 per cent stake, though Seraphine did not disclose how much of the company she still owns.
She said the sale would allow her to retire, adding:’For me it’s sort of a dream come true, I’m able to exit and I know the business is in excellent hands.’