French Connection, the renowned UK fashion brand known for its provocative “FCUK” branding, has recently agreed to a sale worth £29 million ($39.3 million) following years of financial losses compounded by the challenges presented by the COVID-19 pandemic. Stephen Marks, the chairman and founder of the company, who has led the brand for nearly five decades and remains the largest shareholder, is expected to step down from his position once the sale is finalized. The buyer group includes Apinder Singh Ghura and Amarjit Singh Grewal, prominent figures within the UK apparel industry, along with the holding company KJR Brothers Ltd. Notably, Ghura currently owns 25.4% of the company, while Marks holds a 41.5% stake.

Under the terms of the agreement, French Connection shares will be acquired for 30 pence per share, resulting in a 30% premium compared to the stock price before the bid was publicly announced last month. This particular deal follows French Connection’s active pursuit of potential buyers earlier this year, after investment firms Spotlight Brands and Gordon Brothers withdrew from initial discussions to acquire the company.

As the fashion industry undergoes a period of transformation and adaptation due to the ongoing pandemic, French Connection’s decision to sell the brand reflects the challenges faced by many retailers in this new landscape. It is hoped that new ownership will bring fresh opportunities for growth and success for the iconic fashion label.

Useful Links:
1. [French Connection website](https://www.frenchconnection.com/)
2. [Financial Times article on French Connection sale](https://www.ft.com/content/2f4e32a1-abe8-4a02-99cf-b5f3b2d238e8)