UK Edition
Anya Hindmarch bags half her fashion business back
British designer Anya Hindmarch has regained a joint ownership of the fashion business which bears her name after returning to lead a turnaround.
Companies House filings revealed Ms Hindmarch now owns between 50pc and 75pc of the firm’s shares, less than a year after it was acquired for an undisclosed sum by the Marandi family, which also owns stakes in Soho House and Emilia Wickstead.
It is understood that the share structure means that the 52-year-old designer and Iranian-born businessman Javad Marandi now each own 50pc stakes in the company, giving them an equal say in how it is run.
Ms Hindmarch founded her business aged just 18 after living in Italy during her gap year in 1986 and taking inspiration from the leather duffel bags which were fashionable among young women at the time.
After sending a handbag to Harper’s Bazaar, she went on to sell 500 of her designs through the fashion magazine and by 1992 she was selling her handbags in luxury department stores including Harrods, Harvey Nichols and Bergdorf Goodman in New York.
The brand is known for its playful designs such as handbags designed to look like faces and sequin tote bags bearing the logo of well-known brands such as Heinz ketchup and Cadbury’s Dairy Milk. Ms Hindmarch’s bags sell for up to £1,395 online.
She stepped down as chief executive in 2011 but remained as creative director on the company board, with former Harrods and Gucci executive James McArthur taking over.
But following her departure, the brand’s leadership changed several times and racked up heavy losses amid a difficult restructuring period.
Sales at Anya Hindmarch plunged by a third to £24.6m in the year to December 29 2018, latest accounts show. Losses totalled £12.6m but more than halved compared with a year earlier when they came in at £28.2m.
Tory donor Javad Marandi and his wife Narmina snapped up a 75pc stake from long-time Qataari investor Mayhoola in March 2019.
Following her return to the helm last year, Ms Hindmarch said her priority was to “turn around the business”.
“I want to make sure it’s a bit more future proof… Ultimately getting it to the stage where it’s a success,” she added.
A spokesman for the company declined to comment.