The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Anya Hindmarch is parting ways with its long-time Qatari backer, after the companies reached an agreement to sell the luxury accessories brand to Iranian-born entrepreneur Javad Marandi and his wife.
The secretive Qatari fund Mayhoola for Investments first acquired a stake in Anya Hindmarch in 2012, building up its ownership to at least 75% of the company by the middle of last year. But the fund — which owns a stable of luxury brands, including Valentino Fashion Group and Balmain — had been seeking an exit after a difficult period of restructuring, during which the brand struggled to turn a profit.
Hindmarch started her business in 1987, her playful designs attracting a dedicated following among celebrities and royalty. But that hasn't been enough to maintain profits; in 2017, the London-based brand reported a pre-tax loss of £28 million ($37 million), according to annual filings.
The Marandis, whose investments also include Soho Farmhouse and Emilia Wickstead, have bought into the brand as it is emerging from its turnaround, which involved significant cost-cutting efforts and a shift from traditional retail to the web.
The companies did not disclose the terms of the transaction. Following the sale, Hindmarch will continue in her role as creative director and remains a member of the board.
On Friday 29 September, The BoF 500 Class of 2023 will be unveiled. To mark the occasion, The Business of Fashion sat down with four members of The BoF 500 to discuss how they are shaping the future of the industry.
Joining an already outstanding lineup including Chanel’s global chief executive officer Leena Nair, Bottega Veneta’s creative director Matthieu Blazy, and John C. Jay, president of global creative of Fast Retailing, we are delighted to reveal the latest roster of speakers joining us at BoF VOICES 2023.
Walmart and Centric Brands are investigating their supply chains in Cambodia over allegations that inmates at the country’s largest women’s prison were illegally employed to produce garments for export.
Nike is facing increased demands to sell a Mary Earps shirt after the England player saved a penalty in the World Cup final and was named the tournament’s best goalkeeper.