An investment firm based in the U.S., Elliott Advisors, is reportedly considering a £2 billion offer for The Very Group, an online retailer with multiple brands. The firm, which also controls Waterstones, has not confirmed the proposal. The Very Group is currently managed by The Carlyle Group, a private equity firm that took over from the Barclay family in 2025. The company operates under the Very and Littlewoods brands, selling clothing, beauty products, home goods, and electrical items.
Carlyle has reportedly looked into selling the company through an auction. The potential deal has also attracted interest from JD.com, a major e-commerce company in China. The proposed sale follows a period of uncertainty for the retailer, as shown by mixed results in its latest financial report.
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For the 39 weeks ending 28 March 2026, The Very Group reported retail revenue of £1 billion, a rise of 0.1% compared to the same period last year. The sports category saw a 7.5% increase in sales. However, the fashion segment, a core part of its business, declined by 4.5% due to a difficult market, as stated by the company.
Overall retail sales, including figures from Littlewoods and Very Ireland, fell 1.6% to £1.2 billion. The numbers show challenges in keeping sales steady across all product lines. Experts note that online retailers are facing growing competition from global firms and changing consumer behavior.
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No response was received from Elliott Advisors, Carlyle Group, or The Very Group regarding a Sky News inquiry. The potential £2 billion offer could lead to a major change in ownership for the retailer, which has been under Carlyle’s management for less than a year. The move would also show increased interest from foreign investors in retail assets in the UK.
JD.com’s involvement adds another layer of complexity to the sale. The Chinese company has been expanding its presence globally, seeking opportunities in Western markets. However, details about its interest remain unconfirmed, and the process is still uncertain.
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The Very Group’s performance highlights the uneven recovery of the retail sector in 2026. Some areas are showing strength, while others are struggling to adapt. The company’s ability to adjust to market trends may impact the final outcome of any sale process.
With no official statements from key parties, the situation remains unclear. The proposed sale could alter the structure of the UK’s retail sector, but the final terms and timing are unknown. For now, attention is focused on the financial results and the interests of potential buyers.
