Radley, the handbag maker that was put up for sale last month by its private equity owner, Phoenix, is planning an ambitious expansion, including its first store in Dubai and 10 more stores in the UK within the next three years. The Independent
The company currently operates from two stores in London, one on the King's Road and a second on Floral Street in Covent Garden. It is set to open a third store in the capital later this year and another is planned for Manchester.
Phoenix has commissioned PricewaterhouseCoopers to review options for the business, which could include a sale of its 55% stake in the firm. However, sale plans may be shelved because of the liquidity crisis.
The management team, who own the rest of the business, intend to stay on to continue with the expansion plans.