Lorna Jane race narrows

By Bridget Carter - The Australian

The Wall Street Journal last month reported Lorna Jane had attracted interest from US-based Foot Locker and Advent International.

Credit Suisse is handling the sale on behalf of founding owners Lorna Jane and Bill Clarkson, and Champ Ventures, which owns about 40 per cent, a stake it acquired almost three years ago.

It is understood the Clarksons want to retain a stake and the company hopes to find an investor who will position Lorna Jane for growth.

Lorna Jane is for sale at a time when the fitness fashion wear market is becoming increasingly competitive with fears it is heading for saturation.

Lorna Jane was earmarked for an initial public offering earlier in the year and was expected to be highly sought after by investors, with the retailer’s value likely to be about $400 million.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Read more here: Business Spectator


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