British luxury handbag company Anya Hindmarch has been put up for sale amid widening losses by parent company Mayhoola for Investments, the Qatari royal family’s investment fund.
Innovative marketing to combat losses
Sales in 2017 were at £37.2m while losses were at £17m after a difficult period of restructuring for the brand, which saw the closure of eight stores and concession locations and a shakeup of management. After significant cost-cutting efforts and a shift from traditional retail to investment into online sales, the company has returned to a more stable financial footing. The introduction of a home fragrance line and an innovative marketing campaign for a more instagram-savvy customer has seen Anya Hindmarch fly 30 giant hearts over London landmarks last year and the installation of a giant electric blue net of climbing tunnels in a car park for this year’s London Fashion Week.
Mayhoola bought a controlling stake in the business in 2012, which was an early investment toward the Qatari fund’s bid to become a luxury conglomerate. Recently Mayhoola has acquired a portfolio of luxury brands including Valentino Fashion Group and Balmain.
Hindmarch is expected to remain as chief creative officer of the company she founded in 1987.