The Gold family, owners of Ann Summers, is contemplating selling part of their stake.
- Discussions with corporate advisory firm Interpath are underway for a strategic review.
- It is uncertain if the family will give up a controlling interest in Ann Summers.
- Ann Summers has faced losses, leading to the family funding additional support.
- A robust business history has supported resilience despite financial challenges.
The Gold family, who have owned Ann Summers for decades, are currently exploring various options regarding their ownership of the renowned lingerie and sex toy retailer. One of the primary considerations is the potential sale of a partial or majority stake in the business.
Reports indicate that there are ongoing discussions with Interpath, a corporate advisory firm, to perform a strategic review. This step could potentially lead to selling a significant portion of the business. However, while discussions have been taking place for several weeks, there has been no formal appointment of the firm to date.
Ann Summers, established in 1971, was acquired by David and Ralph Gold in 1972 following its liquidation. Since then, the Gold family has maintained 100% ownership of the company. Sources suggest there is a likelihood that the family’s stake may be reduced, although there is no certainty about relinquishing control through a majority share sale.
In addressing inquiries from Sky News, Vanessa Gold, the chair of Ann Summers, noted the financial pressure exerted by recent governmental budget decisions and rising retail costs. She emphasised the company’s robust and resilient position, facilitated by the family’s long-term committed investment.
The retailer has been experiencing financial losses, leading the Gold family to inject several million pounds via a loan to bolster the company’s financial standing, as confirmed by recent reports.
The Gold family’s consideration of various stake sale options highlights their strategic initiative to navigate financial challenges and continue brand growth.
