Aurora Fashions is to restructure its business with the separation of its core brands which will eventually see the group cease to exist, it has been announced today.
In a move which seeks to increase omnichannel opportunities, formalwear fashion retailer Coast will operate as a standalone business, opening more flagships amid continued international expansion as well as launching an innovative new website.
Meanwhile, Oasis and Warehouse will merge to become a single parent company known as Fresh Channel.
Oasis Managing Director Liz Evans has been appointed CEO of the new business and the senior management team will work on the move over the coming 12 to 18 months to support brands until the process is complete and Aurora will cease to operate.
“Retailing is no longer about gearing your operating model around bricks and mortar, something we have realised as a result of our omnichannel success,” said Aurora Chairman Derek Lovelock.
“Instead, our businesses must adapt and utilise a number of distribution channels to ensure we continue to capitalise on the changing global retail environment.”
Aurora pointed out that combining the two youth fashion brands will create a de-layered management structure aimed at allowing the team to exploit economies of scale while further developing their unique identities.
“Oasis and Warehouse are two iconic, high street British fashion brands that have gained international recognition for their innovative approach to omnichannel retailing,” Evans said.
“I am privileged to be working with two exceptional management teams.
“Together, I know we will drive strong performance and continue to surprise and delight our customers around the globe.”