JD Sports Fashion has acquired menswear chain Cecil Gee in a £1.7 million deal with suit specialist Moss Bros. JD already runs two premium chains in Scotts and Bank as it expands its leisure wear and clothing offering. We understand JD intends to run the stores as a separate brand, but with an enhanced product range that will include some of JD's premium branded fashion range.
Cecil Gee has eight stores Moss, which Moss has owned the brand since the two firms merged in the 1980s.
Commenting on the deal, Peter Cowgill, JD's chief executive, said the Cecil Gee acquisition gives it a "low risk springboard for the development of a well-funded profitable premium brand fashion chain".
Moss sold 15 Hugo Boss stores earlier this year and with the disposal of Cecil Gee it plans to focus resources on its core estate.
The purcghase of Cecil gee caps a busy week for JD, following on from a sepearate announcement (see story) that they were taking a controlling interest in Spanish sports chain - Sprinter.