Maternitywear chain Seraphine, a favourite of the Princess of Wales during her pregnancies, is to be taken private at a fraction of its flotation value less than two years ago
Under her leadership, it grew into an international business, with online sales in more than 100 countries and stores in cities including London, New York and Paris.In 2020, she stepped up to become the company's president, handing over the chief executive's reins to David Williams, a former Asos executive.
Mayfair also owns the parent company of Yo!, the sushi bar chain, and holds a stake in Ovo Energy, the gas and electricity supplier. In the last year, Seraphine has hired a new finance chief, Lee Williams, and shaken up other aspects of its leadership team. Its catastrophic share price performance has partly been caused by weaker sentiment towards online-biased retailers, with the likes of ASOS and Boohoo also seeing their valuations come under severe pressure.
A combination of inflationary pressures, supply chain challenges and diminishing post-pandemic optimism about the relative strengths of digital retailers, has hurt the performance of many stocks in the sector.Seraphine and Mayfair both declined to comment.
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