Anya Hindmarch changes hands

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Anya Hindmarch Marandi
// Anya Hindmarch undergoes change of ownership
// Marandi family acquires the retailer and brand from Qatari-based Mayhoola
// Anya Hindmarch herself will remain on the board and as creative director

Anya Hindmarch has been sold off to the Marandi family after they bought the majority stake in the luxury handbag brand and retailer.

According to The Telegraph, Qatar-based Mayhoola For Investments successfully offloaded its stake of 75 per cent to entrepreneur Javad Marandi and his wife Narmina.

The terms of the deal were no disclosed.

The Telegraph indicated that under the new owners, Anya Hindmarch herself will remain on the board and as creative director of the label she founded in 1987.

Mayhoola had initially spent £27 million for a 39.9 per cent stake in Anya Hindmarch in 2012 and spent another £20 million to raise it to 75 per cent last year.

The news comes after Mayhoola put Anya Hindmarch up for sale earlier this month amid widening losses in its trading performance.

In 2017, sales were at £37.2 million in 2017, while it made an EBITDA loss of £17 million.

Anya Hindmarch has reportedly reduced losses since then after it closed down eight stores in the UK and Japan and revamped its sourcing and marketing.

The Marandi family has interests in Emilia Wickstead, Wed2be and Soho House.

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