The deal, which is Membership L London’s first acquisition, will see the enterprise tackle the whole thing of Lavish Alice’s operations, from mental property rights and stock to web site, social media accounts and buyer information.
Lavish Alice will proceed to function as a standalone model beneath Membership L London, which is able to retain Lavish Alice’s staff.
Lavish Alice co-founders Lee Bloor and Matthew Newton, who launched the model in 2013, will oversee the possession transition earlier than stepping down from their roles.
By the acquisition, Membership L London goals to strengthen its market place and speed up international enlargement to turn into a multi-brand platform specialising in “elevated womenswear”.
Based by CEO Katie Randev in 2007, Membership L London reported a 51% year-on-year gross sales improve to £44.4m in its newest monetary outcomes for the 14 months to 31 March 2024.
Randev stated: “This acquisition is a strategic step in our journey to scale globally and additional elevate our model portfolio. Lavish Alice and Membership L London share a dedication to meticulous design and a focus to element, with each manufacturers centered on creating thought of, timeless items.
“It’s a model I’ve all the time revered for its design integrity and powerful identification, and we’re excited concerning the alternatives forward. We’re dedicated to constructing on its legacy and taking it to the following stage.”
Bloor and Newton stated: “We’re delighted that Lavish Alice has been acquired by Membership L London. From being stocked in world-renowned retailers to dressing A-list celebrities [including model Gigi Hadid and actress Lindsay Lohan], Lavish Alice has been a real labour of affection.
“We’re proud to move on our legacy to Membership L London, a frontrunner within the occasionwear area, and sit up for seeing the model proceed to thrive in its subsequent chapter.”
Beforehand stocked by premium trend retailers Harvey Nichols and Selfridges, Lavish Alice moved right into a direct-to-consumer mannequin after its wholesale arm, Quick Vogue Collections Worldwide (FFCI), sunk into administration in February 2023.
The enterprise retained all head workplace workers in addition to contracts with key suppliers. It additionally repaid £4m owed to collectors, together with £1.4m owed to HMRC.
