The consumer team at Clearwater International has advised the founders of Ollie & Nic on a refinancing by a group of retail investors.
Established in 2002, Ollie & Nic is a vintage-inspired handbag and accessories brand that has grown from one store in Brighton to a chain of 11 standalone stores throughout the UK. Ollie & Nic products have also been stocked by leading high street retailers, including Harvey Nichols, Urban Outfitters, Harrods, John Lewis and Selfridges. A period of difficult trading in the retail sector during 2010, culminating in a festive period that failed to meet expectations, resulted in the directors of Morley Trading Ltd, the holding company retailing the Ollie & Nic brand, having to appoint administrators from MCR.
Clearwater International assisted the founders of Ollie & Nic in securing a rescue bid from Peter Davies, Richard Sims and Chris Inman, who previously held senior roles in Arcadia and were part of the Rubicon team that undertook a MBO of Warehouse and Principles from Arcadia in 2001. After the sale of Rubicon to Shoe Studio in 2005, Peter, Richard and Chris have continued their involvement in retail, including the development of new retail brand Mint Velvet, an exciting new womenswear retailer that launched in 2009.
Ollie & Nic founders Nick and Jane Hill will continue to be involved in the future growth and development of the brand alongside incoming managing director, Mark Vandenberghe, who brings a wealth of experience from his former role as international director of Monsoon and Accessorize.
“The Ollie & Nic business has been built on our passion for fashion accessories and this investment brings with it a new structure which puts the business in a much stronger position to develop the many opportunities we see for this unique and exciting brand.”