Aurora Fashions Explained

Aurora Fashions
Predecessor:Mosaic Fashions
Foundation:2009
Defunct:2015
Location:Iceland
UK
Locations:1250+
Area Served:International
Industry:Fashion retail
Products:Clothing
Owner:Kaupthing Bank

Aurora Fashions was a holding company of several retail fashion brands, formed in 2009 to purchase a number of businesses from the collapsed Mosaic Fashions. The company operated over 1,250 stores in 38 countries, including franchises, under the Oasis, Warehouse and Coast brands.[1]

History

In March 2011, the company announced plans to spin-off Karen Millen,[2] which was completed in 2012.[3] Karen Millen was separated from the group to be owned by Aurora's parent Kaupthing Bank.[4]

Aurora announced further plans in March 2013 for a wider restructuring. As part of this, Coast was also separated from the rest of the group, under the ownership of Kaupthing,[5] and it was planned that Oasis and Warehouse would be merged under a new single parent company, Fresh Channel.[6] [7] The two brands were eventually de-merged as the Oasis and Warehouse Group, led by Liz Evans.[8] [9]

On 30 April 2020, it was announced that both Oasis and Warehouse went into administration with the loss of 1,800 jobs.[10]

Notes and References

  1. News: Holland . Tiffany . Aurora Fashions to be broken up in radical restructure . 31 December 2014 . Retail Week . 6 March 2013.
  2. Web site: Aurora Fashions to spin off Karen Millen . Rushton . Katherine . 1 March 2011 . Retail Week . 29 January 2013.
  3. News: Ruddick . Graham . Aurora moves closer to break-up as Karen Millen boss departs . 5 September 2015 . The Telegraph . 3 January 2015.
  4. News: Taylor . Charlie . Mixed trading conditions for Aurora Fashions . 8 March 2016 . The Irish Times . 15 January 2016.
  5. News: Butler . Sarah . Kate Bostock to head up Coast . 31 December 2014 . The Guardian . 20 August 2013.
  6. News: Taylor . Gemma . Aurora Fashions to restructure business . 31 December 2014 . Retail Gazette . 6 March 2013.
  7. News: Losses widen at fashion giant . 5 September 2015 . Insider Media . 9 February 2015.
  8. News: Neville . Simon . Oasis: Fashion brand turns profit for first time in three years as it goes upmarket . 22 October 2016 . The Independent . 27 November 2015.
  9. News: Gallagher . Philip . Oasis carries Warehouse as group turns profit . 22 October 2016 . Retail Gazette . 27 November 2015.
  10. News: Oasis and Warehouse to close permanently, with loss of 1,800 jobs . The Guardian . 30 April 2020 . 30 April 2020.

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