LAURA ASHLEY seems set for one more rebirth after being snapped up by Marquee Manufacturers, the proprietor of Ben Sherman.
The US group, which already runs 17 completely different manufacturers, purchased the British agency from funding group Gordon Brothers for an undisclosed quantity.
The style and furnishings enterprise was based in 1953 and its tendencies grew to become a favorite within the ’70s, with homewares following within the ’80s.
Nevertheless it hit the skids initially of the pandemic and was compelled to close 70 shops, leaving tons of of employees going through an unsure future.
Gordon Brothers purchased the model in 2020 and relaunched it on excessive streets by way of a partnership with Subsequent in 2021.
Tobias Nanda, of Gordon Brothers, stated: “We constructed a versatile, scalable licensing enterprise and a worldwide e-commerce presence.”
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The brand new homeowners stated they plan to maintain the UK employees in place whereas they “unlock its potential as a full life-style model innovating new merchandise and classes in key markets”.
Airline cheer
FESTIVE travellers helped price range airways Ryanair and Wizz Air pull in additional passengers in December, regardless of climate disrupting flights.
Gatwick had 4 days of points between Christmas and New Yr.
However Ryanair carried 13.6million passengers in December and Wizz Air 5.1million, each up on 2023.
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Houses in dip
MORTGAGE approvals fell in November after rising for 3 consecutive months, Financial institution Of England figures confirmed.
There have been 65,700 approvals, round 2,400 fewer than in October.
However investor Hargreaves Lansdown stated: “There’s each probability this can be a seasonal blip.”
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FAQ Section
Why did Laura Ashley face financial struggles in recent years?
Laura Ashley struggled initially during the pandemic, leading to the closure of 70 stores and significant workforce reductions. The challenges stemmed from declining demand, lockdowns, and economic pressures. For more insights, visit BBC News and The Guardian.
What are Marquee Brands’ plans for Laura Ashley?
Marquee Brands plans to maintain the UK workforce and expand Laura Ashley into a full lifestyle brand with innovative products. The goal is to unlock its potential globally, leveraging its legacy in fashion and homewares. Read more at The Sun and Financial Times.
What role did Gordon Brothers play in Laura Ashley’s recovery?
Gordon Brothers acquired Laura Ashley in 2020, stabilizing the business with a licensing model and relaunching it in partnership with Next in 2021. Their efforts included building a strong e-commerce presence. Learn more at The Independent and Sky News.
