Footwear and accessories retailer Dune’s sale process has reportedly been delayed, despite offers from fashion giants Next and Aurelius among others.
The sale has been delayed despite Dune receiving “multiple offers” from prospective buyers.
The bids from fashion giants, including Next and Aurelius, “did not match the target valuation,” according to Drapers.
It was first reported that Dune was on the hunt for new investors in March this year as it appointed KPMG to run the process and evaluate options amid “exciting growth opportunities” for the business.
Upon the completion of a sale, the new buyer would take on founder and chair Daniel Rubin’s controlling stake.
Dune reported a 73% increase in EBITDA to reach £10.9m for the full year to January 28, 2023. Sales for the period were also up 20.8% to £141.1m.
Retail Week contacted Dune and the fashion retailer did not provide a comment.
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