FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Wells Fargo Provides US$88.6MM Growth Facility to AllSaints and John Varvatos

November 02, 2021, 07:48 AM
Filed Under: Apparel

Wells Fargo Capital Finance provided a global hybrid asset-based and intellectual property facility to AllSaints and its subsidiary John Varvatos, two iconic international fashion brands.

Acting as the sole lender, Wells Fargo Capital Finance provided a multijurisdictional, five-year, £65 million (US$88.6 million) financing solution that will provide liquidity for accelerated organic growth and support working capital needs.

Peter Wood, CEO of AllSaints and John Varvatos, said: “We are very pleased to be working with Wells Fargo Capital Finance as we build on the strong momentum that we are currently seeing across both brands. We have a clear strategy for each brand built on a sustainable operating model, and now have larger customer bases than ever before. It is great to have the support of Wells Fargo Capital Finance as we execute our plans.”

“AllSaints and John Varvatos have established themselves as innovative brands with wide-ranging appeal across all customer demographics,” said Tayyib Chowdhry, director with Wells Fargo Capital Finance UK Originations. “We are delighted to have structured a truly flexible facility to support their highly diversified business models and differentiated products, which will support their continued growth.”  

Headquartered in London, UK, AllSaints sells apparel, footwear and accessories with more than 100 stores and almost 200 concessions, as well as through ecommerce, licensing and franchise partners across 26 countries globally. John Varvatos, headquartered in New York City, USA, sells apparel, footwear and accessories in the USA and globally. John Varvatos was fully integrated in the AllSaints group as part of the transaction. The group generates more than 60% of sales outside of the UK and more than one-third online through both its own websites and online concessions.

AllSaints is controlled by funds managed by Lion Capital LLP and was advised on the financing by Tomorrow Partners LLP.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.