Ex-Supreme Owners The Carlyle Group To Buy Majority Stake in END. Clothing
Ecommerce giant and retail flagship END. Clothing is set to have new owners in the coming weeks, as The Carlyle Group are finalising an agreement to purchase a majority stake in the business. Bloomberg reportedly estimate this purchase values END. at approximately £750 million, or just over $1 billion.
A private equity firm, The Carlyle Group is perhaps best known in the sneakersphere for being the previous majority owners of streetwear label Supreme, who were recently acquired by VF Corporation. END. currently has a minority stake held by Index Ventures, who will be exiting ahead of the expected April 1 acquisition.
END. co-founders Christiaan Ashworth and John Parker will still be heavily involved with the business as co-CEOs, while still holding a minority stake. The two university friends founded END. back in 2005 with a relatively meagre £40,000 investment, and now this sale is definitely paying dividends.,
Carlyle are expected to invest heavily into expansion opportunities for END., who already have a strong online presence and three flagship stores in London, Newcastle and Glasgow.
Ashworth and Parker have released a joint statement welcoming the Carlyle acquisition: ‘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… to reach an increasingly international audience.’