Our Client:

PwC for Brantano Retail Limited (in Administration)

Background

Brantano Retail Limited (in Administration) (“Brantano” or “the Company”) was a market-leading shoe retailer with a nationwide presence. Trading in the UK since 1998, the Company had more than 150 branded stores and concessions across the country and also sold its products through Brantano’s e-commerce website. The Company targeted the low- and mid-market, offering shoes and accessories for men, women and children. Brantano’s product range comprised well-known external brands, including Sketchers and Hush Puppies, as well as in-house brands such as Skittles, Orchard, Mountain Peak, Emilio Luca X, and Caravelle. The Company commissioned approximately 600 new shoe designs for its in-house brands every year to respond to changing consumer expectations. In the year to February 2017, Brantano generated revenue of more than £82 million.

The Assignment

Metis Partners was appointed to assist the Joint Administrators by identifying, marketing and selling the intellectual property (“IP”) assets of Brantano, in order to maximise the financial recovery for creditors.

Our Process

Metis Partners performed comprehensive research on Brantano and its operations. Using our proprietary methodology, Metisology®, we identified all the IP assets of the Company that had been critical to both revenue generation and to its competitive advantage. In addition to a list of registered trade marks provided to us, Metis Partners discovered a number of critical IP assets, including goodwill rights in the corporate brand and in 24 product brands, numerous unregistered trade marks, the brantano.co.uk domain name, copyright in the website content, e-commerce software, a customer database, and rights to hundreds of unregistered shoe designs.

Metis Partners produced a detailed marketing brochure, cataloguing and showcasing all of Brantano’s IP assets that were available for sale. We launched an intensive marketing campaign, compiling a database of and making direct contact with over 1.2k international potential buyers. We simultaneously promoted the opportunity in UK media, relevant trade press, and through our extensive network of contacts around the world. As a result, Metis Partners generated significant interest in the IP sale, including from major sports retailers. We supported extensive IP due diligence enquiries and negotiated with interested parties to create competitive tension, resulting in a significant uplift in the final offer. Following offer acceptance, Metis Partners supported the Joint Administrators’ lawyers to ensure timely completion of sale.

The Outcome

Metis Partners discovered a wide range of IP assets that could be sold, far beyond the list of registered trade marks provided to us. Through our extensive marketing campaign, we received a number of competing offers for Brantano’s IP assets. Metis Partners negotiated with the highest-bidding parties and were able to secure two separate asset sales for different IP assets. Metis Partners recovered a six-figure return for creditors from the sale of IP assets.

Results

  • Maximised market exposure for all of Brantano’s IP assets for sale;
  • Delivered an end-to-end IP marketing and sale process;
  • Negotiated a significant return for creditors, in excess of initial expectations; and
  • Avoided the loss of critical IP assets, enabling a potential relaunch of a nationwide brand and business by the corporate brand’s new owner.