Anya Hindmarch takes back control of luxury brand as turnaround picks up pace

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

British designer Anya Hindmarch has regained control of her eponymous accessories brand with annual losses halving and sales rising thanks to her bet on bricks and mortar shops.

Hindmarch, who founded the luxury business in London in 1987, has over the past few years developed a cluster of shops in the capital’s wealthy Belgravia district to boost the company’s fortunes.

The retailer recorded a pre-tax loss of £1.5mn in the year to January 28, compared with £3.1mn the previous year while turnover increased to £20.5mn from 15.7mn, according to accounts filed at Companies House this week. Retail like-for-like sales were up 51 per cent, while like-for-like online sales rose 42 per cent.

In 2021 the company opened five neighbouring stores, anchored by a café and now with a sixth outlet, which it dubbed “the Anya Village”, as many other retailers pulled back from the high street after the havoc wrought by Covid-19 lockdowns.

One of the outlets changes form every six weeks and has previously served ice cream in a project that went viral after it sold Heinz ketchup and Maldon salt flavoured ice creams.

The brand also sells its handbags and accessories through some wholesalers and in third-party stores across the globe as well as online.

Separately, the company’s results showed its legal and professional fees ballooned to £431,000 in the year — up from £40,000 in the previous period — relating to “a regulatory investigation”. The company declined to comment.

In April, Hindmarch became the ultimate controlling party, according to the filings, having returned to running the business in 2019.

The Marandi family, which also backed private members’ club Soho House and fashion designer Emilia Wickstead, bought a majority stake in Anya Hindmarch in 2019 from the Qatari fund Mayhoola for Investments, with the intention to eventually pass control to Hindmarch.

A spokesperson for the family said: “This is part of the long-term plan, implemented since 2019, to appropriately recognise Anya as the founder, creator and leader of the business.”

Hindmarch and businessman Javad Marandi each own between 25 per cent and 50 per cent of the company, according to Companies House, but Hindmarch now controls it.