Aurora Fashions is to undergo a major restructure, splitting out Coast from the company
Aurora Fashions is undergoing a major restructure, splitting out Coast from the wider company and rebranding the remaining business as Fresh Channel.
This new business will continue to run Oasis and Warehouse as separate fascias, with Liz Evans, managing director of Oasis, being promoted to the role of chief executive of the new business. It is not yet clear what will happen to Aurora chief executive Mike Shearwood.
Coast is planning to open more flagship stores, develop a new website and continue its international expansion.
The transition will take place over the next 12-18 months, after which point Aurora will cease to exist.
Chairman Derek Lovelock said: “Retailing is no longer about gearing your operating model around bricks and mortar, something we have realised as a result of our omni-channel success. Instead, our businesses must adapt and utilise a number of distribution channels to ensure we continue to capitalise on the changing global retail environment.”
Shearwood added: “De-layering our businesses enables us to maximise the capabilities we have built through our channels over the last two years. This will allow us to create independent, agile organisations, where the management teams have full control and autonomy to deliver their strategies, so that they can provide their global customer base with more choice.”
Last month it was reported the womenswear business was considering a spin-off of its Coast fascia in order to improve the prospects of selling the chain.