Touker Suleyman, clothing manufacturer and owner of shirt retailer Hawes & Curtis, said the brand had been “taken in the wrong direction” by its previous owners, Kevin Stanford and Icelandic backer Arev. “They took it high street and too mainstream,” he said. “I will take it back to its heritage as a luxury brand.”
He will relaunch the brand in March, beginning with the introduction of new product into its 33 stores and concessions.
“The biggest investment I have got is my experience, my infrastructure and vertical business model,” he said. “That will allow the business to bounce back.”
Suleyman, who bought the retailer for an undisclosed sum along with his brother, revealed that Procter & Gamble has acquired Ghost’s perfume licence, although it will remain part of Ghost’s retail offer.
Suleyman said he would expand Ghost globally with a standalone US store and a franchise shop in Japan. He has no plans to expand in the UK.
Suleyman said he is “evaluating” Ghost’s management team and is in talks with the landlords of four of its stores to secure their future.
Head office and regional manager synergies will be achieved with Hawes & Curtis, although he denied this would lead to redundancies.
According to a release issued by Suleyman last week, Ghost was forced into administration after Icelandic investment vehicle Kcaj, through which Arev invests, “refused” to invest in it further.
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