Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Aurora mulls Coast spin-off

Womenswear business Aurora Fashions is considering a spin-off of its Coast fascia in order to improve the prospects of selling the chain.

According to reports in the Independent, the group is planning to separate the chain from the parent company in the same way it did with its Karen Millenfascia back in 2011.

Although it is understood that Aurora, which also owns womenswear chains Warehouse and Oasis, has no imminent plans to start a sale process for either Coast or Karen Millen, its continued devolvement of the brands will help the group to sell them in the future.

Separately, it has been speculated that Aurora chief executive Mike Shearwood could be considering a management buy-out of the Karen Millen chain.

Coast has 41 standalone stores and 166 concessions in the UK as well as 109 stores overseas.

Aurora is majority-owned by the failed Icelandic bank Kaupthing and was formed after the collapse of the now defunct Mosaic Fashions in March 2009.

The group’s profits fell by 15.3% to £12.7m in the year to February 2012 which was largely attributed to the underperformance of its premium womenswear brand Bastyan.

Last month, the group said that Meg Lustman, the managing director of Warehouse, was stepping down although she could remain on its board for a while longer.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.