Vandevelde swoops on Republic fashion chain

Change Capital Partners, Luc Vandevelde's private equity investment group, has bought a majority stake in Republic, a deal which values the UK fashion business at £105m; the 76-strong chain specialises in young labels such as Hooch, Bench, Replay and G-star.  Change bought a minority stake from rival 3i, and got control by buying Republic management shares.  Mr Vandevelde set up Change just prior to leaving M&S; he is backed by the Halley family, owners of 11.5% of the Carrefour empire.  Other Change UK holdings are Robert Dyas and blind manufacturer Hillarys.