1 Feb 2018 07:00
1 February 2018
Footasylum plc
("Footasylum" or the "Company")
Update on the appointment of Barry Bown
Footasylum, the UK-based fashion retailer focussing on branded footwear and apparel, is delighted to announce that Barry Bown is to join the Company in a consulting role on 1 March 2018.
As highlighted in the Company's Admission Document, Barry Bown has committed to join the Board as Executive Chairman on or around 1 June 2018. Barry has over 30 years' retail experience, most of which was gained at the JD Sports chain which he joined in 1984 and where he served as Chief Executive from 2000 until 2014.
The new consulting role will enable Barry to work closely with the Company ahead of his formal appointment to the Board.
The Board believes that Barry's extensive experience of building a listed retail business and his excellent relationships with many major brands will enable him to make a valuable contribution to the Company's leadership team.
The Company's Admission Document can be found at http://investors.footasylum.com/
Enquiries:
| |
Footasylum plc Nancy Kelsall (Company Secretary)
| Tel: +44 (0) 1706 746 777 |
GCA Altium Limited (Financial Adviser & Nominated Adviser) Phil Adams Sam Fuller Tim Richardson
| Tel: +44 (0) 20 7484 4040 |
Liberum Capital Limited (Broker) John Fishley Jill Li
| Tel: +44 (0) 20 3100 2222 |
Powerscourt (Financial Public Relations) Rob Greening Lisa Kavanagh Isabelle Saber
| Tel: +44 (0) 207 250 1446 |
Customer website: https://www.footasylum.com/
Investor website: http://investors.footasylum.com/
Notes to Editors:
Footasylum is a UK-based fashion retailer focusing on the branded footwear and apparel markets. The Company retails "on-trend" product ranges which are predominantly aimed at 16 to 24 year old fashion-conscious customers and are sourced from an extensive stable of third party and own brands. These include well-known sports and casual footwear and apparel brands, as well as up-and-coming brands and own label products.
Examples of third party brands include: adidas; Nike; The North Face; Gym King; Converse; New Balance; EA7; Vans; Nicce London; Siksilk; Under Armour; and Calvin Klein. Examples of Footasylum's own brands include: Kings Will Dream; Glorious Gangsta; Condemned Nation; and Alessandro Zavetti.
The Company operates a multi-channel model which combines a 65-strong store estate - in a variety of high street, mall and retail park locations in cities and towns throughout Great Britain - with a fast-growing eCommerce platform and a recently launched wholesale arm for distributing its own brand ranges via a network of partners. In FY17, the store estate accounted for 71 per cent. of revenue and eCommerce accounted for 29 per cent.
Footasylum was founded in 2005 and the Company's ordinary shares were admitted to trading on AIM in November 2017.