News
Fashion Retail Academy acquires London College of Beauty Therapy and announces new Group structure
19th March 2024
The Fashion Retail Academy has acquired the capital’s leading beauty school, the London College of Beauty Therapy. The acquisition of LCBT marks a significant expansion of the FRA's commitment to provide industry-backed vocational and academic courses combined with industry enrichment to prepare graduates for careers in industry.
LCBT was established in 1995 and has grown to become the top London provider of fully funded courses for students aged 16-19 in areas such as beauty therapy, hair, makeup and aesthetics. Aligning two of the UK’s top specialist education providers was a natural step for the FRA as it looks to extend its renowned blend of vocational learning and academic excellence into other sectors.
THIS STRATEGIC ACQUISITION REFLECTS THE DEDICATION OF BOTH COLLEGES TO OFFER A COMPREHENSIVE AND CUTTING EDGE EDUCATION THAT PREPARES OUR GRADUATES FOR SUCCESS
Concurrently with the acquisition, both the FRA and LCBT will become part of a new charity, Education for Industry (EFI) Group, a structure which will provide support for both colleges’ future growth and expansion. EFI Group will contain four divisions: FRA, LCBT, EFI Training and EFI Awards, while group functions such as Finance, Operations, Marketing and Student Services will provide a best-in-class experience supporting all divisions. The FRA’s CEO, Lee Lucas, will become CEO of EFI Group and both colleges and former LCBT CEO Christianne Cavaliere will depart the business.
The FRA and LCBT will retain their individual identities and programmes and continue to operate independently of one another. Over time best practice from both colleges will be integrated to provide students with enhanced learning resources, access to a broader industry network, and increased opportunities to gain relevant experience.
EFI GROUP CEO LEE LUCAS SAID:
“I could not be more delighted to welcome LCBT into the FRA family. This strategic acquisition reflects the dedication of both colleges to offer a comprehensive and cutting edge education that prepares our graduates for success in the dynamic worlds of fashion, retail and beauty. Together, we will continue to elevate creativity, innovation, and excellence across fashion, beauty and more new sectors, to empower the next generation of industry leaders.”
CHRISTIANNE CAVALIERE DE MONCAYO SAID:
“This is an exciting next step for LCBT’s continued success. Following the legacy of our founder, Eileen Cavalier OBE, it is important to us that LCBT thrives under the leadership of an organisation with a strong focus on quality education for their learners, delivers for industry, and cares for their staff community.”
The move comes at a time of substantial growth for the Fashion Retail Academy, as it prepares to move to a new campus in September 2024. Electra House on Moorgate, close to London Liverpool Street station, will double the footprint of its current building in support of the FRA’s ambition to double student numbers by 2029. LCBT will remain in its enviable central London location close to Oxford Circus, where it operates a popular training salon.
For more information about EFI Group, visit efigroup.co.uk
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