Middle East investor buys luxury London-based handbag firm

A Middle East investor has purchased the luxury London-based handbag company, Anya Hindmarch, a British newspaper reported Saturday.

The Daily Telegraph did not give an exact figure for the private deal, but estimated its worth between 20 to 40 million pounds sterling ($31 million to $47 million).

A majority of shares in the handbag company’s holding vehicle, ASHS, have been sold to a third-party investor, believed to be linked to one of Qatar’s sovereign wealth funds, the paper said.

Anya Hindmarch, the company’s founder and designer, will remain as the creative director. Hindmarch opened her first store in 1987 in London’s West End and the brand now has more than 50 stores around the world.

The private deal will increase the gas-rich Qatar’s interests in the luxury goods sector.

The handbag company is headed by James McArthur, former chief executive of Harrods, the upmarket department store which was sold to Qatar Holdings in May 2010 for $2.3 billion. Qatar owns assets ranging from stakes in German sports car maker Porsche to shares in British bank Barclays.

Anya Hindmarch last year signed a deal with Qatar-based SH Almana Co to open stores across the Middle East, Arabian Business reported.