Hobbs Investment

The investment will not be the only influencing change for Hobbs, former Asda executive Tony Campbell has lest the fashion retailer Hobbs are eight years, with Iain MacRitchie replacing him as chairman.

The former Maximuslce chairman, MacRitchie, has a FMCG marketing background as well as spending the last six months carrying out a comprehensive “consumer insight review” of Hobbs. He also has close lins to 3i, as a member of the chairman’s boards.

Apparently the change has been in the works for some months. The new chairman will now be working at developing the feel for the retailers sub-brands, Hobbs Collection, NW3 and Limited Edition with the investment received providing the capital from its private equity backer 3i.

Loraine Woodhouse will also be joining Hobbs, after previously working with Capital Shopping Centres and Costa Coffee.

Hobbs has also increased sales by around 12% in the year to January 2011, according to Chief executive Nicky Dulieu.