Anya Hindmarch has new owner

Worldwide
Published:  29 March, 2019

The premium British leather goods brand was sold by the Qatari fund for investments, Mayhoola, to the Marandi family.

Led by Iranian-born entrepreneur Javad Marandi, the family also has stakes in Emilia Wickstead, Wed2be and Soho House. Marandi is said to have initially bought a US$35.4 million controlling stake in the business in 2012, before raising its stake to more than 75% in 2018. As reported by ILM, the London-based premium leather goods brand posted a pre-tax loss of £28.2 million (US$36.98 million) in 2017 but, allegedly, significant cost-cutting efforts and a shift from traditional retail to the online sales are said to have helped Anya Hindmarch to reduce its losses.

Reportedly, since buying Anya Hindmarch seven years ago, Mayhoola has spent about US$34 million trying to revamp the brand and to expand from leather handbags to shoes.

Sources: The Telegraph/Fashion Network