Anya Hindmarch takes control of Japanese franchisees for 24 million pounds

British luxury accessories label Anya Hindmarch is set to take control

over its Japanese franchise business.

A deal has been made by the label's Qatari financial backers, Mayhoola For Investment who own 38 percent of Anya Hindmarch, to take over the business for 24 million pounds. The Qatari backers investment in the label is in the form of preference shares, which will fund expansion in Japan.

Seeing as the country currently accounts for 35 percent of Anya Hindmarch sales, Anya Hindmarch is keen to invest in new stores, technology and a new IT infrastructure. Founder and chairman, Anya Hindmarch and CEO James McArthur are said to be currently working through a “replumbing” of the label to prim its international growth.

The luxury label, best known for its quirky handbags, slipped into the red after its investment from Mayhoola. Revenues increased from 23.8 million pounds to 24.1 million pounds, however Anya Hindmarch also reported a pre-tax loss of 4.3 million pounds for 2013.