Last week Aurora Fashions announced plans for the business to split out Coast and rebrand the remaining stores under new company ‘Fresh Channel’. Drapers looks back over Aurora’s recent history.
1991 - Oasis stores launch
1998 - Oasis buys out Coast
2001 - Oasis management buy the business, via Sierra Acquisitions, with support from PPM Ventures.
2003 - Oasis and Coast lead a secondary management buyout, supported by the Baugur group and Icelandic bank Kaupthing.
2004 - Karen Millen joins the group, which is renamed ‘Mosaic Fashions’
March 2009 - Mosaic fashions enters administration and is immediately sold on to Aurora Fashions, a new company jointly owned by Kaupthing and Mosaic’s former management. The line up is now Warehouse, Coast, Oasis and Karen Millen.
April 2009 - Aurora opens a further 18 UK concessions and eight stand-alone stores, taking the grand total up to 868 stores nationwide.
December 2009 - Meg Lustman is appointed to the newly created role of managing director of Warehouse.
August 2010 - Margaret Macdonald, previously chief executive of LK Bennet, becomes managing director of Coast, as Liz Evans is appointed managing director of Oasis.
December 2010 - Aurora acquires womenswear designer Bastyan as a concession.
March 2011 - Karen Millen is established as a separate company
December 2011- Aurora launches ‘Anywhere, Everywhere’ stock management system. Online purchases can now be supplied from any of the three fascias.
May 2012- Stewart Binnie leaves after eight years
December 2012 - Aurora sells stake in Bastyan after disappointing performance.
March 2013 - Aurora splits Coast from business, creating new parent company Fresh Channel to house Oasis and Warehouse. Evans is appointed chief executive of Fresh Channel.