Shoe Studio joined Mosaic Fashions in June 2006 as part of the acquisition of
Rubicon Retail, which included the brands Principles and Warehouse.
In June 2008, Gordon Baird joined Shoe Studio as Managing Director and has
since completed a strategic review of the business and the footwear market.
The review concluded that Shoe Studio has strong brands and wide distribution
which have enabled it to become a major player within the UK footwear industry.
The review identified that there will continue to be considerable change in the
UK footwear marketplace and that Shoe Studio can better maximise these
opportunities outside of the Mosaic group. Given Mosaic's strategy to develop
its leading portfolio of women's fashion brands in the UK, internationally and
through the internet, the board has accepted this recommendation and has
commenced a process to realise the value of Shoe Studio by way of a sale of the
business.
Mosaic Fashions is being advised by Hawkpoint.
Further Information
For further information on this release please contact Gavin Anderson (Fergus
Wylie/Clotilde Gros +44 207 554 1400).
Information on Mosaic Fashions hf is available on the company website at
www.mosaic-fashions.co.uk
