Kate Middleton’s favorite brand goes down, the royals (of Qatar) left: Mayhoola sells Hindmarch

The brand is going under watrer, the Qatari royals have decide to discard it. Mayhoola for Investments fund, owned by the royal family of Qatar, has put on sale the British luxury bags brand Anya Hindmarch which in 2017, according to Business of Fashion, lost 28.2 million pounds and recorded a revenue decrease of 10% to 37.2 million pounds. However, sources close to the company cited by various British media, have said that the company’s financial position has now  been “stabilized” and that “losses have been materially reduced” thanks to cutting costs and developing online sales. The brand, which also uses Italian leather for its bags, was founded by  designer Anya Hindmarch in 1987. In 2012, the Qatari fund entered with a 39.9% share, then passed to 75% last year. The total investment is valued at around £50 million. The decision to put the company up for sell the company, as reported by “This is Money” was made by mutual agreement between the property and the designer, creative director of the brand, which should still remain in place after the sale. Anya Hindmarch is known for being the luxury bag brand preferred by the Duchess of Cambridge, Kate Middleton.

TRENDING
  • loading...

PREMIUM CONTENT

Choose one of our subscription plans

Do you want to receive our newsletter?
Subscribe now
×
Sei un nuovo utente? Abbonati/Registrati