Laura Ashley plc (LSE: ALY) is a British textile design company now controlled by the MUI Group of Malaysia. It was founded by Bernard Ashley, an engineer, and his wife Laura Ashley in 1953 then grew over the next 20 years to become an international retail chain. Sales totalled over �?76 million in 2000. Its products can be described as quintessentially English.
The first shop under the Laura Ashley name opened in Pelham Street, South Kensington, in 1968, with additional shops opened in Shrewsbury and Bath in 1970. In one week alone, London's Fulham Road shop sold 4,000 dresses - which resulted in the new factory in Newtown, Montgomeryshire. It was the opening of the Paris shop in 1974 which was the first to feature the distinctive green frontage and stripped wooden interior; and in the same year the first USA shop opened in San Francisco. A licensing operation led to the opening of department store concessions in Australia, Canada and Japan from 1971 onwards.
By 1975, turnover was �?million per year and the company employed 1,000 people worldwide. Laura turned down the offer of an OBE (she was upset Bernard had not been offered one) but a Queen's Award for Export was accepted in 1977. Turnover reached �?5 million in 1979, and a range of perfume was launched. The addition of a home in France enabled Laura to go back to her roots of fabric design, and the company launched its home furnishings collections. |
