Authentic Brands & WHP Global reportedly bid for Lands' End
The news comes three months after Lands' End Board of Directors indicated that it was exploring "strategic alternatives" for the future of the brand, which included the potential sale of the retailer or a merger, to increase shareholder value.
Best known for its classic all-American styles, which emphasize quality and durability over trends, Lands' End previously reported an annual revenue decline of 7.4 percent compared to the previous year in March. However, the retailer managed to return to profitability in the fiscal year for 2024/25, noting "positive momentum" across all sectors.
The potential sale comes as Lands' End let go of 10 percent of its corporate workforce in 2024 in an effort to drive greater agility and flexibility across its operations, improving inventory management, increasing full-price sell-through, and minimizing reliance on discounting.
Lands' End has enlisted Perella Weinberg Partners to advise on its strategic options. The retailer's stock was trading at approximately 11 dollars per share prior to Reuters' report on Wednesday, reflecting a market valuation of close to 360 million dollars.
The heritage apparel brand, founded in 1963 as a mail-order yacht supply company and formerly owned by Sears before its 2014 spin-off, declined to comment on the matter, as did WHP Global and Authentic Brands Group.
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