BRITISH luxury handbag maker Anya Hindmarch is set to start selling in the US, Middle East and Asia.
Hindmarch’s brand, which acquired a new investor last month, will open a concession in Harvey Nichols Kuwait and a flagship store on Madison Avenue in New York next year. South Korea, Hong Kong and Japan are also expected to host new shops.
The company’s turnover increased by 16 per cent to £23.2m in 2011, but growth costs cut profits to £330,000. Worldwide sales rose to £40m.
Last month London-based private equity group Kelso Place sold its 38 per cent stake to Qatar Luxury Group, Sheikha Mozah’s investment vehicle
Chief executive James McArthur said: “We are on track with hitting our strategic plan milestones. We are continuing to invest, which is clearly the right decision given the tremendous excitement and energy around the brand.”
The recent deal is not Qatar Luxury Group’s first foray into fashion. It has a stake in French leather-goods maker Le Tanneur & Cie, and funds managed by the Qatari royal family this year bought Italian fashion house Valentino for €700m (£559m), and Harrods for £1.5bn in 2010.
Hindmarch, who founded the company 25 years ago, is chairman and chief creative officer.