Asda has reportedly revealed that it will not sell off its George clothing division, as it instead intends to invest in the brand.
According to Drapers, despite rumours that had surfaced regarding the potential sale, owners Zuber and Mohsin Issa are intent on keeping hold of the clothing department.
To further introduce George to a younger market, the supermarket chain is reportedly aiming to launch 16 to 20 third-party brand partnerships by the end of 2021.
The group said that it plans to place the womenswear label into 100 shops across the UK, while also adding collections from Missguided, Lee, and Wrangler in Summer roll-outs.
Roger Burnley, CEO and president at Asda, said that George “continues to be a key part” of the group’s strategy.
He added: “George is the second-largest retailer of clothing in the UK by volume, and has a vibrant and growing home offer that attracts customers to our stores and online.
“Our new owners, and investors, clearly recognise the value and strategic importance of the George brand to our total business and we will continue to invest in its success.”
Retail Sector has contacted Asda for further comment.