“It’s time for businesses to be brave and decisive,” she said in a statement. “We have been transforming our business model since 2017 … and I’m incredibly excited for the next phase.”
Hindmarch started her business in 1987, attracting a dedicated following with her humorous and classically British designs. She was also the first accessories designer to present her collections in a runway show during London Fashion Week.
In 2011, she stepped down as chief executive, naming former Harrods and Gucci executive James McArthur to replace her, while staying on as creative director and board member. Since then, the company’s executive leadership changed several times: Helen Wright was appointed chief executive in 2015, then replaced, in 2017, by Francesco Giannaccarri, who remained in the role for a year before Antoine Bejui took the reins.
“I had to make the decision to either stay as CEO or be the creative, and to do both was probably to do a disservice to the business,” she told Ross Bailey, founder of Appear Here, at the company’s “Moments” event on Tuesday.
The move comes after Anya Hindmarch parted ways with long-time Qatari backer Mayhoola for Investments in March 2019, after the companies reached an agreement to sell the luxury accessories brand to Iranian-born entrepreneur Javad Marandi and his wife.
Mayhoola first acquired a stake in Anya Hindmarch in 2012, building up its ownership to at least 75 percent of the company by the middle of 2018. But the company has struggled to turn a profit in recent years amid a difficult period of restructuring and, in 2017, reported a pre-tax loss of £28 million ($37 million).
As managing director, Hindmarch’s first move will be to “turn around the business,” she said. “I want to make sure it’s a bit more future proof… Ultimately getting it to the stage where it’s a success.”
Editor's Note: This article was revised on May 2, 2019. An earlier version of this article misstated that James McArthur was the chief executive of Anya Hindmarch since the label’s founder left the role in 2011. This is untrue. McArthur was succeeded in the role by Helen Wright (2015), Francesco Giannaccarri (2017) and Antoine Bejui (2018).