US vulture Elliott leads race to buy £500m Reiss as designer Christopher Kane collapses into administration
msn.comTwo fashion brands beloved by the Princess of Wales yesterday faced uncertain futures. Luxury dressmaker Reiss is thought to be a takeover target for US investment fund Elliott Advisors while designer Christopher Kane collapsed into administration.
Kate Middleton has been a loyal fan of High Street name Reiss, often wearing colourful, smart blazers from the retailer, and even picked a white dress from the brand for her engagement portrait with Prince William back in 2010.
But Reiss may be sold to Elliott, the New-York investment manager behind booksellers Foyles and Waterstones, in a deal that could value it at more than £500million, according to Sky News.
Lord Wolfson’s High Street clothing firm Next has been working with private equity firm Warburg Pincus, which also owns a stake in Reiss, to auction the business.
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