British fashion brand Temperley London has sold a majority stake of the business to Dubai-based Times Square Group, forming a strategic partnership that aims to build on new opportunities and secure its future.
As part of the acquisition, founder Alice Temperley will remain on as creative director while Luca Donnini is to also continue serving as chief executive officer, according to WWD.
Temperley will now move away from logistical and operational elements of the company in order to refocus on new categories and brand offering expansions.
The brand is particularly planning to introduce new lingerie, swimwear, bags and shoes ranges, while bolstering its wholesale distribution within the ready-to-wear category in a bid to appeal to a global market.
Meanwhile, for Times Square Group, which already has a portfolio consisting of Manolo Blahnik, Furla and Zadig & Voltaire in the Middle East, sights are set beyond Dubai and the UK in terms of operations.
A first step in the partnership will be the launch of a flagship store in London, expected to open in the second quarter of 2024. The location will house Temperley London’s assortment of ready-to-wear, eveningwear, bridal and interior collections.
The brand has faced a series of challenges over recent years, namely that of an administration filing back in 2021, after being hit with a slowdown amid the pandemic.
As part of the restructuring, Temperley formed a new company – Temperley Holdings – that centred around a “more streamlined and focused business model”, with a tighter supply chain and an emphasis on direct-to-consumer sales.
At the time, Donnini said that the move would “allow for a leaner organisation and a tighter control of our distribution and production, with a consistent delivery of quality to our clients”.