Laura Ashley has been acquired by New York-based brand accelerator Marquee Brands, the owner of 17 brands including Ben Sherman, from global asset specialists Gordon Brothers.

The acquisition will boost the retail value of Marquee Brands' global portfolio to more than $4 billion and enable the company to establish its first European headquarters in London.

As part of the agreement, Marquee Brands confirmed it will retain the existing Laura Ashley team in London under the leadership of president Carolyn D'Angelo. Marquee Brands indicated plans to strengthen Laura Ashley's market position by expanding operations across the Americas, Asia Pacific and other strategic regions.

Founded on Laura and Bernard Ashley's kitchen table in 1953, the company began by producing affordable country living-inspired products such as headscarves and napkins. The brand achieved significant success in the 1970s as a fashion label, with its distinctive floral dresses becoming a mainstream interpretation of hippie culture. By Laura Ashley's death in 1985, the brand had established 220 stores globally and had become a favourite of the Sloane Ranger set, notably worn by Diana, Princess of Wales.

The British retailer however began to struggle with declining sales and profits throughout the 2010s, and entered administration in March 2020, citing mounting uncertainty around cash flow and the impact of the Covid-19 pandemic, becoming one of its first major retail casualties.

Gordon Brothers acquired the business in April 2020, and under their ownership, Laura Ashley made a return to the high street through partnerships with Next, DFS, and John Lewis in the UK. The brand currently operates in over 200 markets through more than 100 licensed partners, with products available at thousands of retail locations and 150 shops globally via overseas licensees.

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.

"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, added: "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.

"We could not be prouder of Laura Ashley's growth under Carolyn D'Angelo's leadership, the former president of Laura Ashley, and know the brand is in the right hands for continued global growth under Marquee Brands' leadership."

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