Aurora Fashions

Aurora Fashions
IndustryFashion retail
PredecessorMosaic Fashions
Founded2009
Defunct2015
HeadquartersIceland
UK
Number of locations
1250+
Area served
International
ProductsClothing
OwnerKaupthing Bank
Websitewww.aurorafashions.com

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]

References

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