British luxury handbag brand Anya Hindmarch has reportedly been sold off to the Marandi family.
According to The Telegraph, the Marandi Family, which is led by Iranian-born entrepreneur Javad Marandi, is buying a majority stake from Doha-based Mayhoola For Investments.
Mayhoola for Investments first acquired a stake in Anya Hindmarch in 2012, before raising its ownership to at least 75 percent last year. Anya Hindmarch will remain on the board and as creative director, according to The Telegraph.
Earlier in March, Mayhoola put the British luxury handbag brand up for sale following widening losses. In October, the brand reported a 10 percent decline in its turnover to 37.2 million pounds (48.4 million dollars) for the year to December 31, 2017, while pretax losses more than doubled to 28.2 million pounds (36.7 million dollars) against the previous year.
Photo credit: Anya Hindmarch, Facebook