M.H. Alshaya Co., a Kuwaiti retail franchise operator, said it plans to invest 100 million pounds ($155 million) in the U.K. retail industry over the next two years through its acquisition of La Senza U.K.
Alshaya “has today reached agreement to take control of the ongoing La Senza business in the U.K.,” it said in an e- mailed statement today. Plans for the business include new product collections and store redesigns.
KPMG, the administrators of La Senza, a lingerie chain, said yesterday they had agreed to sell 60 stores to Alshaya U.K. Ltd. La Senza closed 84 stores and 18 concessions after announcing at the end of last month that it was seeking administration.
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