Former JD Sports boss Cowgill mulls return to luxury menswear retail

Cowgill has retired from JD Sports after an 18-year tenure. Photo: JD Sports

A former JD Sports executive is considering a return to the retail frontier to help run the luxury menswear brand.

Peter Cowgill is understood to have been approached by a private equity group about taking a senior position at Mainline Menswear. Mainline is owned by JD Sports, where Cowgill was CEO until last year.

However, the retailer is understood to be seeking buyers for its designer clothing company as part of a push to focus more on sportswear.

Bidders from private equity and trading are understood to be circling in circles, and sources said private equity was keen to have Mr Cowgill involved in any successful bid.

Stuart Hicks, the former footballer who founded Mainline Menswear, has also been approached to run the business if the spin-off proves successful. Negotiations are believed to be at a very early stage, with sources cautioning that JD Sports has only recently begun to show interest from possible buyers.

JD Sports declined to comment.

The high street giant bought a majority stake in Mainline Menswear in early 2014, which sells brands including Emporio Armani, Ralph Lauren and Hugo Boss online.

Mr Cowgill said at the time: “This is a great business. We are simply giving the company more financial stability and market strength.”

Revenues have risen sharply since then, from £8 million in 2015 to £66 million in the latest financial year.

Negotiations with Mr Cowgill come about a year and a half after he left JD Sports in a surprise announcement that ended his 18-year tenure. In his final months at the helm of the company, he faced questions about management.

Mr Cowgill ran JD Sports without a chief executive for eight years before stepping down as executive chairman.

At the time of his departure, JD Sports said it was overhauling its systems after a review found its «internal infrastructure, governance and controls were not growing at the same pace» as the overall business.

Mr Cowgill remains a consultant to JD Sports. The terms of his £5.5m exit package prevent him from advising the retailer's rivals.

Working for Mainline Menswear is not expected to violate the non-compete clause due to JD Sports' current focus on sportswear. Mr Cowgill became non-executive chairman of The Fragrance Shop late last year. Mr Cowgill declined to comment. Mr. Hicks did not respond to requests for comment.