River Island Clothing Co. Ltd.

RIVER ISLAND CLOTHING CO. LTD.: INITIAL SUBMISSION Full Version The history of River Island spans 55 years. The business started in 1948 as a small lock-up shop in East London selling wool and ladies clothing. As the business increased shops were added under the name of “Lewis Separates” and the focus became ladies clothing. By 1968 there were some 70 stores in the UK and “Lewis Separates” introduced into a few of its stores a brand new concept and name. Innovative in design and format these stores used strong colours, bold fashion imagery and pop music to create “Chelsea Girl,” the first UK chain of fashion boutiques. With continuing expansion, menswear was introduced in 1983 under the “Concept Man” brand and from 1988 further evolution took the form of the development ofa new brand concept of a themed store offering fashion for men and women. The new brand was called “River Island” and today the product range includes men’s and women’s clothing and footwear, accessories and cosmetics. A dedicated in-house design and sourcing team creates fashionable, stylish and quality clothing representing value for money, targeted at the fashion conscious 18-35 year old market. As at 28 December 2002 River Island had net capital resources of £85.5 million and achieved sales of £377.6 million for the 52 weeks. River Island is a wholly owned subsidiary of Lewis Trust Group Ltd, which is the parent of a diversified group engaged in the retailing, property, leisure and financial services sectors. As at 31 December 2002 Group consolidated net capital resources amounted to £408 million. Relevant Markets River Island designs and retails men’s and women’s clothing, footwear, accessories and cosmetics. The majority of products are designed in-house and sold principally under the River Island brand, although other River Island owned brands are used. A small proportion of sales are attributable to thirdparty brands. River Island has shops in over 180 locations Great Britain and Northern