Anya Hindmarch hires Gucci exec to expand label

Anya Hindmarch, the British accessories label behind the eponymous 'I'm is not a plastic bag', has appointed a new chief executive. James McArthur, a former banker who previously lent his talents to Harrods and Balenciaga and Gucci Group,

will replace Hindmarch herself, who will focus on the creative direction of the brand.

Hindmarch stated: “I have always known that when the business achieved a certain scale, I would want to bring in outside expertise to help take us to the next level. We have great ambitions for the Anya Hindmarch brand and this is the right time to strengthen senior management,” Ms Hindmarch said.

In an interview with the Financial Times, Ms Hindmarch and Mr McArthur did not rule out the possibility of seeking financing from outside investors. A stock market listing also “may be an option”, they said.

Anya Hindmarch is one of Britain’s fastest-growing smaller luxury goods companies, helped by a celebrity clientele that includes Sienna Miller and Emma Watson. Its best-selling “Gracie” handbag costs £595.

The company, started by Ms Hindmarch in 1989, made £20m in revenues last year, a 20 per cent year-on-year increase. It will add 11 new stores to its network of 54 worldwide this year.

Ms Hindmarch told the FT that she saw “huge potential” in China, Brazil and India. “Japan continues to be very successful for us, even after the earthquake,” she added. Anya Hindmarch last month opened a flagship store in Tokyo’s fashion district.

Internet sales and bespoke products, a newly thriving area in the luxury goods sector, are another focus of expansion plans. Mr McArthur also expects to expand product ranges and its wholesale network.

The decision by Ms Hindmarch to bring in an outsider to lead the company comes as several well-known luxury goods companies seek additional financing.

Image: Anya Hindmarch London clutch
SourceL FT©