Laura Ashley has been acquired by New York-based brand accelerator Marquee Brands, the owner of 17 brands including Ben Sherman, from global asset specialists Gordon Brothers.
The deal will see Laura Ashley’s UK-based team retained as part of a strategy to expand Marquee Brands’ global footprint.
The move includes the opening of its first European headquarters in London and increases the retail value of Marquee Brands’ portfolio to $4bn (£3.23bn).
Marquee Brands CEO Heath Golden said: “Laura Ashley’s licensed business model and robust group of high-quality partners makes the brand a seamless addition to Marquee Brands. We are excited to harness the strong affinity for this iconic brand and drive expansion across new platforms and partnerships.
“With the existing UK team in place, we are primed and ready to leverage Laura Ashley’s seven-decade legacy to unlock its future potential as a full lifestyle brand innovating new products and categories, offering unique collaborations and engaging multi-generational audiences in key markets worldwide.”
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Gordon Brothers rescued the brand from administration in 2020 when it acquired Laura Ashley’s global brand, its archives and related intellectual property.
Gordon Brothers head of brand Tobias Nanda added: “As a firm that actively invests in and revitalises iconic brands like Laura Ashley, we acquired the British heritage brand out of insolvency in 2020 and built a flexible, scalable licensing business and a global e-commerce presence over the last four years.
“We could not be prouder of Laura Ashley’s growth under Carolyn D’Angelo’s leadership, the former president of Laura Ashley, and know the brand is in the right hands for continued global growth under Marquee Brands’ leadership.”
The acquisition of the British fashion and lifestyle heritage brand follows Marquee Brands’ bolstering of its executive team over the past year, with key appointments including Rachel Terrace as chief commercial and growth officer, John Hayes as chief financial officer, Joseph Zarro as chief business development officer, and Natasha Fishman as chief marketing officer, to drive expansion.
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