Last December, Francesca’s (Houston) filed for Chapter 11 due to the pandemic, resulting in the company being sold to Francesca’s Acquisition LLC, an affiliate of TerraMar Capital LLC, Tiger Capital Group LLC and SB360 Capital Group LLC. Now, the company is rapidly evolving their agenda.
To widen the customer base, a tween collection called franki by francesca’s rolled out to 100 stores the first week of February, reports WWD. In addition, loungewear has been introduced and its range in plus sizes has extended. The company is also in discussions for potential arrangements to place the brand on the selling floors and websites of larger retail chains.
Andrew Clarke, Chief Executive Officer of Francesca’s, told WWD: “We are in active discussions with the landlord community to agree how many of those stores can continue to remain open. Right now, our new owners are committed to a minimum of 275 locations.”