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Laura Ashley’s new owner has said he is “prepped and ready” to revive the 72-year-old fashion and home furnishings brand.
New York-based Marquee Brands, which also owns the Ben Sherman clothing brand and the lifestyle brand of American television personality Martha Stewart, bought the business for an undisclosed sum from Gordon Brothers, a restructuring.
Laura Ashley, known for its floral dresses and wallpaper, was bought by Gordon Brothers in 2020 when it became one of the first victims of the Covid-19 pandemic, forcing the closure of its 147 stores.
It returned to the High Street a year later through a deal with retail giant Next and also has deals with sofa group DFS and department store chain John Lewis, although it has no stores of its own.
Recover: Laura Ashley, known for her floral dresses and wallpaper, was bought out of administration by Gordon Brothers in 2020
Under the acquisition agreement, Laura Ashley’s UK-based team, led by boss Poppy Marshall-Lawton, will remain in place.
“With the existing team in the UK, we are primed and ready to build on Laura Ashley’s seven-decade legacy to unlock its future potential as a complete lifestyle brand innovating with new products,” said Marquee CEO Brands, Heath Golden.
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