Gresham Private Equity Fund No. 2

Witchery

Summary of deal

In August 2006 Gresham Private Equity completed the acquisition of retailer of ladies apparel and accessories, Witchery Fashions Pty Limited.

The business operates a network of more than 70 stores located in major shopping centres, strip malls and high streets, David Jones concessions and clearance centres.

In August 2007 Witchery completed a bolt on acquisition of Mimco, a leading Australian fashion accessories brand with an unrivalled position in its market.

Witchery Group has invested heavily in its brand, stores and product development capability, providing a strong platform for future growth. Under Gresham’s ownership both Witchery and Mimco have significantly grown their footprint and Group revenues have more than doubled since acquisition.

Exit

Witchery Group was sold to Country Road in October 2012.