John David Group, owner of JD Sports, strengthened its fashion credentials with the acquisition of branded fashion retailer Bank this week.

Bank, which has 49 shops, will sit alongside John David’s 39-store Scotts fashion chain.

John David financial director Brian Small said: “Bank is a strong fascia with a good multi-gender offer and we like the management team. We see Bank as the stronger fascia [compared with Scotts], but there is still a place for Scotts.”

Small said there was some overlap in the brands that Bank and Scotts stock, but Scotts is a “more male offer”. He added that there is lots of scope to roll out Bank and expansion plans will be assessed in the new year.

John David paid Phoenix Equity Partners£18.5 million for Bank, which was founded in 1994. It sells branded fashion including Gio Goi and Firetrap.

Its management – founder and buying director Andy Scott, managing director Damian Scarlett and finance director Peter Alecock – will remain in their roles.

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