UK: Aurora Fashions considering Coast spin-off?
Aurora Fashions could be considering spinning off its occasion wear brand Coast.
Speculation about the future of the label follows a report by The Independent, which said Aurora Fashions is looking to separate Coast from the rest of the group to improve its long-term prospects of selling the chain.
The company operates 41 standalone Coast stores in the UK, 166 concessions in the UK, as well as 109 stores internationally. Aurora also owns the Warehouse and Oasis brands. The company spun off the Karen Millen brand in 2011.
A spokesperson for Aurora Fashions told just-style today: "What we can say in response to the article is that as part of the on-going business of a dynamic company, we continually review our strategy and our operations to ensure we're optimising the structure of the group and delivering value to shareholders.
"It's always our intention to share any relevant business decisions with our employees first, so we will not be commenting on market rumour and speculation."
The report also claimed that Aurora chief executive Mike Shearwood could be considering a management buy-out of the Karen Millen chain.
"Regarding Karen Millen, we've always been clear about our commitment to the growth of Karen Millen. This has not changed but we have no current plans to sell the business," the spokesperson added.
- Bangladesh: Raising the bar on apparel exports?
- Bangladesh: The business benefits of compliance
- 2014: Year in review - Sourcing winners and losers
- Lululemon confident of turning an important corner
- Bangladesh falls deeper as US apparel imports grow
- Bangladesh factory improvements “will take years”
- Report urges overhaul of Cambodia factory safety
- Tommy Hilfiger launches solar-powered jacket
- Bangladesh knitting worker killed by faulty lift
- North Face debuts locally-grown "backyard" hoodie