Crombie snapped up by private investors for undisclosed sum
One of the oldest British brands, Crombie has been acquired as its new owners declare the fashion firm “open for business”.
Crombie, known for its iconic Crombie coat and other designs adopted by royals and politicians, was snapped up for an undisclosed sum.
Under the name Crombie 1805, the acquiring company is led by managing director Gordon Ritchie, with the backing of private investors.
Gordon Ritchie, managing director of the new firm, said he intended to “inject a new energy” into the historic brand.
New leadership would also seek to “raise its profile globally and leverage the fame and deep affection the public has for the brand,” Ritchie added.
“Crombie has an amazing heritage and we are very pleased to be able to continue the legacy of one of the world’s most famous brands.”
The retailer ceased trading during the first lockdown of 2020 and said in a statement: “In light of current world events, we have now fully suspended our retail, wholesale and supporting administrative operations until further notice.
“We will continue to monitor the global situation and hope to resume operations in the fullness of time.”
The acquirers were advised by Brown Rudnick.