Modella Capital, the investment firm behind TG Jones, Hobbycraft and Flying Tiger Copenhagen, is reportedly considering a bid for British fashion brand Joseph, as the label explores a potential sale.
According to The Times, Modella is among the parties interested in acquiring the business, which appointed advisers at PwC earlier this year to find a new owner. One round of bidding has reportedly taken place, with the next stage of the process expected in mid-November.
Founded in 1966 by Joseph Ettedgui, the brand became known for its luxury womenswear and enjoyed particular prominence in the 1990s, when it was worn by figures including Kate Moss and Princess Diana. It has been owned by Japanese group Onward Kashiyama since 2005, when it was acquired for £140 million.
Joseph began a turnaround in 2019 under Chief Executive Barbara Campos, following a challenging period for the business. Its turnover fell to £45 million in 2025, from £56 million the previous year, although losses narrowed from £12 million to £3.4 million. The business is not believed to be in financial distress.
The brand appointed designer Mario Arena in 2024 to lead its creative direction. Previously, Arena held design roles at Christopher Kane and JW Anderson. Joseph also returned to London Fashion Week this year, following an absence of almost a decade.
Modella has expanded its retail portfolio in recent years, acquiring businesses including Hobbycraft, The Original Factory Shop, accessories retailer Claire’s and WHSmith’s former high street business, which it renamed TG Jones. It has also acquired Danish retailer Flying Tiger Copenhagen, which operates hundreds of stores internationally.
However, its UK retail operations have faced difficulties. Claire’s and The Original Factory Shop entered administration earlier this year, with Modella attributing the challenges to difficult high street trading conditions and increased employment costs. TG Jones has also undergone a restructuring process, involving the closure of more than 100 stores and rent reductions agreed with landlords.
Modella was also previously linked to a potential acquisition of Poundland, although it is understood to have withdrawn from the process.