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.
SEE ALSO : Mayhoola to sell Anya Hindmarch
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. The fund also owns a stable of luxury brands, including Valentino Fashion Group and Balmain.
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 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.
(Source: The Business of Fashion )