Anya Hindmarch returns to run her brand as MD, adds to her creative role
today May 2, 2019
Anya Hindmarch is back in the top job at her eponymous fashion label, eight years after she stepped down as chief executive. She’s now at the helm in the role of managing director and will continue in her other role as creative director.
She replaces Antoine Bejui who stepped down after the company was sold last month by Mayhoola for Investments, where he’s investment manager.
She returns after a tough period for the brand in recent years as the shift to online shopping saw it reporting widening losses as well as closing a number of its standalone stores and concessions. The latest set of accounts available showed a pre-tax loss of over £28 million in 2017, worse than the almost-£12 million in 2016, as turnover fell around 10% to £37.2 million.
The change of role for Hindmarch comes after the company was bought last month for an undisclosed sum by Narmina and Javad Marandi. They acquired the controlling (75%) stake from Mayhoola with Hindmarch remaining a minority shareholder. Mayhoola had paid £47 million in total for its stake, including £20 million only last year when it increased its holding from 39.9% to 75%.
The Marandi family has a wider variety of business interests, which include fashion, and also has investments in Emilia Wickstead, Wed2be and Soho House.
It’s to be hoped now that Hindmarch’s elevation to the MD’s chair means a period of stability for the label that has seen four CEOs since 2012.
She said on Wednesday that the global retail environment is changing fast and repeated something that she has said in the past, insisting that business need to be “brave and decisive”.
The company has certainly been that in recent periods, with the firm cutting out loss-making stores and concessions in its domestic UK market, as well as in Japan, and exiting London Fashion Week’s runway schedule to focus on events and projects the would help consumers engage more closely with the brand. These days, during LFW, the label focuses on headline-grabbing projects and see now, buy now product launches.
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