Iconic fashion and furnishings brand Laura Ashley under new ownership

Iconic fashion and home furnishings brand Laura Ashley, that was founded in Wales, is under new ownership. The business, which was originally set up in Powys in the 1950s by husband and wife team Laura and Bernard Ashley, has been acquired from US investment firm Gordon Brothers by fellow US firm Marquee Brands.

The value of the deal has not been disclosed. Marquee Brands runs 17 brands including Ben Sherman. It said it Brands it plans to “unlock the future potential” of Laura Ashley with plans for new products and collaborations.

Gordon Brothers acquired Laura Ashley out of administration in 2020, a process that saw all of its UK stores close, as well as its factory in Mid Wales The brand made a return to the UK high street in 2021 following a deal with Next. Laura Ashley also has deals in place with DFS and John Lewis in the UK, and is available in 150 shops globally via a network of overseas licensees.

The acquisition will mark a key part in Marquee Brand’s expansion strategy, giving the group a European headquarters in London for the first time.

Heath Golden, chief executive officer of Marquee Brands, said: “Laura Ashley’s licensed business model and robust group of high-quality partners makes the brand a seamless addition to Marquee Brands.

“We are excited to harness the strong affinity for this iconic brand and drive expansion across new platforms and partnerships.

“With the existing UK team in place, we are primed and ready to leverage Laura Ashley’s seven-decade legacy to unlock its future potential as a full lifestyle brand innovating new products and categories, offering unique collaborations and engaging multi-generational audiences in key markets worldwide.”

Tobias Nanda, head of brands at Gordon Brothers, said: “As a firm that actively invests in and revitalises iconic brands like Laura Ashley, we acquired the British heritage brand out of insolvency in 2020 and built a flexible, scalable licensing business and a global e-commerce presence over the last four years.