Fashion group Aurora is to sell its stake in Bastyan as the womenswear label looks to wholesale for growth.
Chairman of the group, which operates Oasis, Warehouse and Coast, Derek Lovelock said the brand, which is stocked in department stores such as House of Fraser and John Lewis, had received a “great reception” since its launch two years ago and there is growing demand to take it overseas.
He said: “People want to buy it wholesale abroad. The brand needs expertise in wholesale and we’re not wholesalers.”
Aurora has backed Bastyan since it was set up by Tonia Bastyan, who co-founded the label Press & Bastyan in the 1990s.
Lovelock said Aurora could still offer shared services for the brand and did not rule out retaining a stake in the brand.
The Aurora boss said although the sale process was at an early stage, there were already a number of parties interested in the luxury brand.
Bastyan exhibited its autumn 12 collection at womenswear show Scoop, earlier this week at the Saatchi Gallery in London. Designer and founder Tonia Bastyan hopes to secure about 25 wholesale stockists for the first season.