THE CARLYLE GROUP PARTNERS WITH END CLOTHING

©END Clothing

UK-based online luxury retailer END Clothing has agreed to divest a majority stake to global investment firm Carlyle Group, valuing the company at more than USD 1 billion. Venture capital firm Index Ventures, which currently holds a minority stake in END, will fully exit from the company after the acquisition, while END founders and CEOs Christiaan Ashworth and John Parker will become minority stake holders.

Founded in 2005 and headquartered in Newcastle, United Kingdom, END is a global multi-brand, digital-led retailer, featuring luxury and contemporary fashion and the best in sneakers and streetwear. The company partners with more than 500 brands and has developed a highly engaged and loyal customer base through its exclusive collaborations and its unique omni-channel offering, including its online platform, mobile apps and physical stores.

END is widely recognised for its focus on a high-quality consumer experience and its curated product selection. The company employs more than 650 people in the UK and ships to over 100 countries worldwide. In the year to 31 March 2020, END generated revenues of GBP 170m, of which 65% related to sales outside of the UK.

Ashworth and Parker said: “We are thrilled to welcome Carlyle as our new partner. Their experience and strong track record in luxury and streetwear will be invaluable to us in supporting END’s long-term and sustainable growth strategy. Carlyle’s industry knowledge and truly global platform will be instrumental as END continues to reach an increasingly international audience. We’d also like to thank Index Ventures for being a fantastic partner and great to work with over the last seven years.”

Carlyle Europe Partners Consumer and Retail managing director Massimiliano Caraffa said: “We are attracted to END’s distinctive style, which mixes luxury and contemporary brands with the best in sneakers and sportswear.