Laura Ashley, which was one of the first major retailers to collapse into administration in April 2020, has entered into a partnership with British fashion retailer Next.
The retailer will now be selling Laura Ashley’s home products both online and across its 500 bricks-and-mortar stores in the UK, with the intent of giving a second life to the ailing brand.
Notably, Next runs its e-commerce platform in more than 70 countries across several continents.
The partnership neither includes any of Laura Ashley’s 147 stores, nor its manufacturing and logistics operations in the UK or Ireland.
In fact PwC, which was appointed as Laura Ashley’s administrators after the retailer fell into administration, is still seeking buyers for the above-mentioned business.
Elated over partnering with Laura Ashley and Gordon Brothers, Lord Wolfson, Chief Executive, Next, said that the perfect blend of Laura Ashley’s design vision and Next’s online and retail infrastructure will help revive the world-class heritage brand.
Here it is important to note that investment firm Gordon Brothers had bought Laura Ashley out of administration in a deal that also included its brands as well as its intellectual property and archives.