Amanda Wakeley has bought back the label she founded in a deal valued at almost £1 million, giving her full control of the company for the first time in more than a decade.
Wakeley, who stepped down from her eponymous label in December after it was sold to serial investor Jason Granite’s Arvoco vehicle in December, is reported to have bought back the brand, its flagship store in London’s Fulham Road plus concessions in Harrods, Harvey Nichols, House of Fraser and Selfridges as well as via a transactional website at www.amandawakeley.com.
“The business is now back where it belongs and I am confident the [Amanda Wakeley] brand has an exceptional future.”
Arvoco investor Jason Granite
Granite put the Amanda Wakeley brand, which has more than 100 stockists worldwide, back on the market at the end of January following a restructuring of the business. At that time Wakeley acquired the intellectual property rights for the Amanda Wakeley label from Granite. This weekend’s deal marks the return of full control of the label to Wakeley.
Amanda Wakeley said: “This is fantastic news for the brand, for our talented staff and our wonderfully loyal customers. I eagerly look forward to renewing contacts and working with our incredible teams to justify the confidence and support of so many who have encouraged me to take this step over the last few months of transition.”
Granite added: “This is an excellent outcome for the Amanda Wakeley brand and its stakeholders. Having worked hard to deliver a turnaround, I am absolutely delighted to have been able to sell the business to Amanda. The business is now back where it belongs and I am confident the brand has an exceptional future.