The founder of a Wales-based high street brand who is leaving the company after nearly 30 years after it was sold in a major deal has spoken of her pride in the business. The childrenswear brand JoJo Maman Bébé has been sold to Next, which has agreed terms to acquire a 44% indirect interest in the brand using shares from existing shareholders, including its founder Laura Tenison.
Ms Tenison, originally from Pontypool, famously started the company from her flat in 1993 before turning it into one of the UK’s leading mother and baby retailers with customers including customers including the Duchess of Cambridge. She will leave the business as part of the deal, with current commercial director Gwynn Milligan taking over the role of CEO. Other JoJo directors will be staying in their posts.
Following the sale Ms Tenison said she was "exceptionally proud" of her work growing the brand over the past 30 years. She said: "Growing JoJo from a kitchen table start-up to being the UK’s leading specialist boutique mother and baby brand has been my priority for the past 30 years. I’m exceptionally proud of our achievements, and excited by the opportunities this new partnership will offer to the brand’s future."
