Kinbow takes controlling stake in plus-sized value brand Ashley Stewart

(Source: Ashley Stewart/Facebook)

RA Capital affiliate Kinbow has agreed to acquire a majority stake in Ashley Stewart, a plus size women’s fashion retailer, from ASI Holdco.

Kinbow plans to continuously operate Ashley Stewart’s brick-and-mortar and e-commerce stores as they are, and keep the brand’s current management in place.

The companies did not disclose the value of the acquisition but said it will further strengthen Kinbow’s position in the value fashion retail market.

“This acquisition demonstrates our belief in the value fashion market and marks a strategic expansion of Kinbow into the retail business,” Kinbow executive director Ram Ajjarapu said.

“As an accomplished apparel and accessories manufacturer with proven experience in developing stylish inclusive size styles, we expect to continue the heritage of the Ashley Stewart brand and look for opportunities to expand the on-trend fashion offerings the company’s loyal customers have come to expect.”

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