Modella Capital reportedly considers acquisition of Joseph

Modella Capital, the former owner of Claire's, is considering a potential acquisition of British fashion brand Joseph, according to The Times, as the investment firm explores another retail deal. The group, which owns TG Jones, is reportedly among parties considering the label.

According to reports earlier this year, Joseph appointed PwC to assess interest from potential buyers, with bidding believed to already be under way. Founded by Joseph Ettedgui in 1966, the brand has been owned by Japanese group Onward Kashiyama since 2005, when it was acquired for 140 million pounds.

Joseph continues to operate UK stores and concessions and is stocked by multi-brand retailers internationally. According to recent accounts, turnover fell to 45 million pounds last year from 56 million pounds, despite losses narrowing to 3.4 million pounds from 12 million pounds.

Creative director Mario Arena, appointed in 2024, has been overseeing the brand's revival, including a return to London Fashion Week in 2025, following ambitions that involve expanding Joseph into a broader lifestyle proposition.

For Modella, the acquisition would represent a shift into premium fashion for a group that has largely focused on value retail. Recent investments have includes Claire's and The Original Factory Shop, both of which entered administration in 2026. Modella, Joseph and PwC declined to comment to The Times.