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Beamfeature acquires stake in new Life & Style brand
24 May '10
1 min read
Suresh Ruia, Managing Director, Beamfeature, a textile company in Manchester, has acquired stakes in the new Life & Style brand of Elaine McPherson. Life & Style was launched in the month of March after the acquisition of trade and assets of the former Ethel Austin and Au Naturale retail chains.
McPherson announced that, with this stake a 'significant injection of funds' has been secured by her in to her newly formed Life & Style Retail business from home textile owner Ruia. The latter is currently the major shareholder in McPherson's business.
This investment is a part of McPherson's strategy that she has planned, to increasing the Life & Style sales and these funds will assist the new company to undergo major expansion. The company had acquired 91 of the most successful stores of Ethel Austin.
More so, Life & Style has relocated its headquarters from Knowlsey in Liverpool to Altrincham and aims at retailing through over 200 stores in the next two years. Meanwhile, Beamfeature will continue to supply its products to major high-end retailers in UK and overseas.
McPherson announced that, with this stake a 'significant injection of funds' has been secured by her in to her newly formed Life & Style Retail business from home textile owner Ruia. The latter is currently the major shareholder in McPherson's business.
This investment is a part of McPherson's strategy that she has planned, to increasing the Life & Style sales and these funds will assist the new company to undergo major expansion. The company had acquired 91 of the most successful stores of Ethel Austin.
More so, Life & Style has relocated its headquarters from Knowlsey in Liverpool to Altrincham and aims at retailing through over 200 stores in the next two years. Meanwhile, Beamfeature will continue to supply its products to major high-end retailers in UK and overseas.
Fibre2Fashion News Desk - India
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