Biba finds new investor

Biba, the quintessentially British fashion label made popular in the 60s, has found a new stakeholder. Manny Mashouf, chairman and founder of the fashion retailer Bebe, has taken a 60 percent stake, making it an Anglo-American company like Burberry. Biba has been facing a tumultuous season with the departure of creative director Bella Freud after the AW07 collection.

According to WWD, The investment is a personal one for Mashouf, and Biba will remain separate from the Bebe business, said Michael Pearce, chief executive officer of Biba International, who owns the remaining 40 percent of the company. "We had been looking for the right person to help make Biba stronger in every way," Pearce said. "Manny understands the label and what we are trying to do. It was a meeting of minds." Mashouf said in a statement that he was "proud to be involved in a brand with such a unique and authentic heritage."