UK’s fashion retailers, New Look, which deals through from more than 800 stores in 21 countries, has been sold to South African investment house Brait SE in a US $ 1.23 billion. Brait, an investment vehicle of the retail magnate Christo Wiese, has bought 90 per cent of the chain. The rest of the business will be owned by the family of Tom Singh, who founded the business in 1969, and other senior management. Paul Mason, Chairman, New Look said, “This is an ideal outcome for New Look. The Brait team demonstrated to us that they have the long-term vision to help Anders and the team grow this brand.”
