River Island´s owners invest in The Hut
By FashionUnited
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The owners and founders of River Island – the
Lewis family- which created the company in the forties and grew it from a wool shop to the fashion-forward chain it is today- has invested in The Hut Group.According to ‘The Telegraph’, the Lewis invested in the multi-website retailer as part of what is believed to be a 10 million pounds fund-raising. As part of the investment, Clive Lewis, deputy chairman of River Island, is to join The Hut Group’s board as a non-executive director, revealed the paper.
The Hut Group, the websites of which include music site Zavvi.com and nutrition supplements site MyProtein.com, is expected to float on the London Stock Exchange later this year with a value in excess of 300 million.