The Polish clothing chain changes ownership
A conditional agreement for the sale of rights to the Top Secret brand was signed.
For some time now, the Łódź-based Redan clothing group has been planning to sell its chain of stationary stores, e-commerce operations and the rights to the popular Top Secret brand. For this purpose, she conducted intensive talks with representatives of Monna Nice (a subsidiary of Monnari Trade) – the owners of another popular brand – Monnari. It seemed that the talks were advanced because in August 2023 it was reported that the letter of intent had been signed. However, at the end of last year, the talks were abandoned. Immediately afterwards, information was provided that Redan had reached an agreement with the Krakow company Greenpoint, which resulted in the signing of a conditional sales agreement. The finalization of this agreement, and thus the completion of the transaction, now depends on the consent of the Office of Competition and Consumer Protection (UOKiK). The value of the transaction is estimated at PLN 11-14 million.
According to the declarations of the Greenpoint brand representatives, both brands are to exist in parallel and their offer is to be diversified. They announce that consolidation will translate into an increase in profitable retail space, which in turn will translate into an increase in revenues and net profit.
It is worth adding that Top Secret and Greenpoint have been present on the Polish market for at least 30 years. During this time, they have managed to gain popularity and a loyal group of customers.