Latest news with #Reinaud
Fashion United
15 hours ago
- Business
- Fashion United
Next rescues Seraphine from administration, upgrades full year profit guidance
Next is continuing its acquisition spree. The British retail giant has bought maternity brand Seraphine out of administration and, as a result, 95 employees have been made redundant. The deal, valued at 600,000 pounds, includes certain assets of the Seraphine business, including the brand and intellectual property. Next said it intends to 'provide a stable platform for Seraphine's relaunch, refocusing the business on what it does best; creating stylist, practical solutions for new and expecting mums'. Seraphine's founder, Cécile Reinaud, will serve in an advisory capacity. In a statement, Reinaud said she was happy to see the brand find a new home with Next, adding: 'This new ownership feels like a good fit and I believe Seraphine will thrive again. I'm excited to be part of this new chapter, helping to restore the brand's unique positioning that pregnant women love.' Will Wright, UK CEO of Interpath and joint administrator of Seraphine, said in a statement: 'We are pleased to have concluded this transaction which preserves the Seraphine brand, and wish the team at Next all the very best for the future.' Seraphine entered administration earlier this month after grappling with 'trading challenges' over recent years that were 'exacerbated by fragile consumer confidence which had negatively impacted sales'. Following the implementation of a new brand strategy, Seraphine worked with Interpath to secure extra investment in May, however, 'pressure on cashflow continued to mount' and, as such, leadership opted to file for administration. Founded in 2002, Seraphine, which ultimately ceased trading on July 7, had been operating a flagship store on Kensington High Street in London, an e-commerce site and had been stocked in several third-party stores. Now under the ownership of Next, it joins the likes of Fat Face, Joules and JoJo Maman Bebe as part of the expanding retailer's portfolio. Rising business costs in UK ensure caution in H2 forecast Elsewhere, Next has continued to enjoy strong financial performance into the second quarter of the year, with full price sales increasing +10.5 percent year-over-year for the 13 weeks to July 26. This came ahead of the retailer's previously stated guidance for the period of +6.5 percent. As a result of the strong performance, Next said it was raising its full price sales guidance for the second half of the year from +3.5 percent to +4.5 percent, adding a further 27 million pounds in sales to its forecast. The company is also increasing its full year profit guidance by 25 million pounds to just over 1.1 billion pounds. In its report, Next said it remains 'cautious for the second half of the year', particularly in the UK, where it is maintaining its sales guidance of +1.9 percent, compared to +7.6 percent in the first half. The retailer cited UK employment opportunities in relation to increased business costs as a core concern in the region, and noted that Q2 sales were likely elevated due to 'better summer weather and trading disruption at a major competitor'. Things look more promising for international online sales, however. For this category, Next is upgrading its second half guidance from +13.1 percent to +19.4 percent as it looks to invest more in profitable digital marketing.
Daily Mirror
06-05-2025
- Business
- Daily Mirror
Royal-favourite maternity label slammed by founder as brand ditches signature 'regal look'
Seraphine, a maternity brand loved by Princess Kate throughout all three of her pregnancies, faces backlash from founder Cecile Reinaud over a rebrand she says abandons its British identity Maternity fashion label Seraphine - a favourite of the Princess of Wales during all three of her pregnancies - is facing backlash from its own founder over a controversial rebrand that sees it ditching its "regal look". Cecile Reinaud, who launched the business in 2002 and sold it for £50million in 2021, has publicly criticised the label's recent overhaul, accusing it of turning its back on the brand's British roots. The French-born entrepreneur, now 51, opened Seraphine's first boutique in Kensington, west London, before expanding into international markets like France and the US. The label became a global sensation in 2013 when the then-Duchess of Cambridge appeared in an official photograph with baby Prince George, wearing the brand's fuchsia "Jolene" dress - which sold out in just two hours. She went on to wear Seraphine throughout her pregnancies with Princess Charlotte and Prince Louis. Seraphine's client list includes celebrities like Myleene Klass, Sophie Ellis-Bextor, Anne Hathaway and Pippa Middleton. But Reinaud now claims the company has strayed from its core identity following a recent rebranding effort by its current owners, Mayfair Equity Partners. Speaking to the Daily Mail, Reinaud said: 'Why abandon our unique British heritage and signature regal purple? Seraphine was once a proud example of British fashion entrepreneurship… now, it seems to have lost its recognisable identity.' The company recently unveiled a new logo and visual identity, aiming to give the brand a more modern appeal. But Reinaud took issue with the direction, describing it as 'resembling a Scandinavian label' and lacking the spirit that made Seraphine stand out in the maternity fashion world. She added: 'My original vision was to create clothes you'd want to wear even if you weren't pregnant. That guiding principle seems to have vanished now.' She was also disappointed that creative director Chelsey Westwood, whose designs played a key role in the brand's early success, stepped down from her role. 'Her immense talent was at the heart of the brand's success.' In response to the criticism, a spokesperson for Mayfair Equity Partners defended the rebrand, saying: 'Last week was a hugely exciting moment for Seraphine, with the unveiling of its enhanced website and refreshed brand identity that incorporated consumer desire for a modernised look and feel." Sales are thought to have faltered since it was sold in 2021, which is part of the reason why the brand opted to relaunch with a new logo and updated design. Sharing the news on Instagram, they posted: "It's here. We've had a rebirth. After over 20 years pushing the boundaries of what maternity fashion is, we've had a rebirth – relaunching our website with a refreshed brand voice for a new era." And while the founder may be disappointed, it appears customers have welcomed the change. One person wrote: "So exciting!" While another added: "Looks amazing!" The brand said customers can now expect more information on their website, including a wishlist feature, back in stock notifications, clever categories, a brand new blog The Kick, details behind the design and customer reviews.
Daily Mail
05-05-2025
- Business
- Daily Mail
EXCLUSIVE The maternity label loved by Princess Kate during all her pregnancies and a row over ditching of its classic 'regal look'
It was a favourite of the Princess of Wales for all three of her pregnancies – but now maternity fashion label Seraphine is embroiled in a right royal row. Four years after selling the business for £50million, founder Cecile Reinaud has claimed the brand has abandoned its British heritage. Ms Reinaud, 51, accuses the firm of losing its way with a rebrand that ditched its 'regal purple' for what she described as a 'Scandinavian' look. She opened Seraphine's first store in 2002 in Kensington, west London. It has since expanded into France and the US. Seraphine sells products ranging from maternity jeans, leggings and dresses to nursing jumpers and breastfeeding covers. The brand received huge attention worldwide when Kate, then the Duchess of Cambridge, wore one of its pieces in the first official pictures of Prince George in 2013. The Jolene fuchsia dress sold out in two hours and she wore Seraphine outfits again in 2015 when pregnant with Charlotte and in 2018 while expecting Louis. Other fans of the label include Myleene Klass, Sophie Ellis-Bextor, Anne Hathaway and Kate's sister Pippa Middleton. In 2021, the business was sold to Mayfair Equity Partners, but it has since struggled with falling sales. Seraphine's owners might have been hoping for a boost last week after a 'modernising' rebrand. Instead, it provoked the backlash from Ms Reinaud, who wrote in a LinkedIn post: 'My original vision was to create clothes you'd want to wear even if you weren't pregnant. 'That guiding principle seems to have vanished now. Just yesterday, the brand unveiled a new logo that makes it resemble a Scandinavian label. 'Why abandon our unique British heritage and signature regal purple? Seraphine was once a proud example of British fashion entrepreneurship, recipient of two Queen's Awards: now, it seems to have lost its recognisable identity.' Ms Reinaud also said she was 'devastated' by the ousting of Seraphine's creative director Chelsey Westwood, adding: 'Her immense talent was at the heart of the brand's success. 'Her creative vision enabled us to dress some of the world's most high-profile celebrities: including becoming the maternity brand of choice for the Duchess of Cambridge.' A Mayfair Equity spokesman told the Mail yesterday: 'Last week was a hugely exciting moment for Seraphine, with the unveiling of its enhanced website and refreshed brand identity that incorporated consumer desire for a modernised look and feel.'
