Alshaya to revamp La Senza stores and product as it hires CBRE

The Kuwait-based trading group has appointed property agent CBRE to manage the 60 La Senza stores it bought out of administration on Monday.

Alshaya senior vice president of property John Hadden said: “We have exciting plans to refresh the business with new product collections and store redesigns which will create a compelling customer proposition and enhance the brand’s contribution to the British high street. 

“We are pleased to be working with CBRE to support our property goals.”

Alshaya has hired CBRE to oversee acquisitions, rent reviews and lease renewals for the La Senza brand.

Alshaya bought the UK franchise rights from La Senza brand name owner Limited Brands, the US retail group that also operates the Victoria’s Secret lingerie chain.

Alshaya will invest £100m into La Senza in the next two years. Alshaya is the international franchise partner for YK retailers including Mothercare, Debenhams, Boots, Next, River Island, Topshop, Miss Selfridge and The Body Shop.

The rest of the 146-strong La Senza store portfolio remains in administration after former owners Lion Capital called in KPMG this week. Property firm Harper Dennis Hobbs has been hired by KPMG to handle the store disposals.

CBRE head of high street retail Tony Devlin said: “La Senza is an exciting brand in a growth market segment and under Alshaya’s management we expect the stores to perform well.”