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Aurora to sell stake in womenswear label Bastyan
16
Feb '12
Aurora Fashions, the London-based retail group, has appointed advisers to sell its stake in its two-year old luxury womeswear label Bastyan.

Aurora Fashions owns, develops and manages the performance of some of the UK's high-end women's fashion brands – Coast, Oasis and Warehouse.

The Bastyan brand was created by Tonia Bastyan of the famed 1990s designer label Press & Bastyan, and is stocked in stores such as John Lewis and House of Fraser.

Derek Lovelock, Chairman of Aurora Fashions, said the Bastyan brand has received good response since it was launched about two years ago. He added that there is growing demand from abroad for the brand for wholesale ranges.

Mr. Lovelock said his company is not into wholesale business and hence, it is willing to offer a stake to someone who is better placed in the wholesale market, as it would support the brand's rapid overseas expansion.

However, Mr. Lovelock said Aurora Fashions can also offer shared services for the brand. He informed that although the stake sell is at an early stage, some parties have already shown interest in the premium brand.

Aurora has over 766 stores in the UK and a total portfolio of over 1278 stores in 33 countries worldwide. Employing about 6,900 people, the company has an annual turnover of £500 million.

Fibre2fashion News Desk - India

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