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Joseph for sale

By FashionUnited

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The British luxury clothing chain Joseph was put on sale last Friday for approximately GBP 100 million, according to media reports. The group is being sold by a consortium that includes Joseph founder, Joseph Ettedgui. According to The Times newspaper, the consortium is sending information to over 20 possible buyers this week. Potential buyers are said to include venture capital firms Hicks Muse, which owns the Jimmy Choo shoe chain, and 3i, which owns the British womenswear chain Hobb's.

With 57 per cent, the majority shareholder in Joseph is Belgian investment vehicle Compagnie Nationale a Portefeuille, while Ettedgui, his brother and other investment groups own smaller percentages. Joseph operates 30 stand-alone stores and 30 concessions in the UK, Ireland, France, the US and Japan.

Joseph