{{Short description|Company of several fashion brands}} {{Use dmy dates|date=June 2023}} {{Infobox company | name = Mosaic Fashions | logo = | type = | genre = | fate = Administration | predecessor = | successor = [[Aurora Fashions]] | foundation = 2003 | founder = | defunct = 2009 | location_city = | location_country = | location = [[Iceland]]<br/>[[UK]] | locations = 1700+ | area_served = International | key_people = | industry = [[Fashion]] [[retail]] | products = [[Clothes]] | services = | revenue = | operating_income = | net_income = | aum = | assets = | equity = | owner = | num_employees = | parent = | divisions = | subsid = | homepage = | footnotes = }}
'''Mosaic Fashions hf''' was a holding company listed on the Icelandic stock exchange that owned several fashion brands. At its peak, it had over 2,000 stores worldwide, as concessions, franchises and joint venture stores.
== History ==
=== Oasis === [[File:Oasis, Debenhams, Sutton, Surrey, London.JPG|thumb|Oasis concession in [[Debenhams]], [[Sutton, London|Sutton]], [[Greater London]]]] The [[Oasis (clothing)|Oasis]] stores started in 1991, and in 1995 Oasis Stores Plc. was floated on the [[London Stock Exchange]]. In April 1998, Oasis purchased the [[Coast (clothing)|Coast]] stores. In September 2001, the management team of Oasis Stores Plc acquired the company via Sierra Acquisitions Ltd., supported by PPM Ventures. Sierra Acquisitions Ltd. later became a part of Sierra Holdings Ltd.
On 16 April 2020, it was announced that both Oasis and [[Warehouse (clothing)|Warehouse]] had fallen into administration. On 30 April 2020, the administrators announced that they had failed to find a buyer for both stores with the loss of 1,800 jobs.<ref>{{cite news |url=https://www.theguardian.com/business/2020/apr/30/oasis-and-warehouse-to-permanently-close-shops-with-loss-of-1800-jobs |title=Oasis and Warehouse to close permanently, with loss of 1,800 jobs |work=The Guardian |date=30 April 2020 |access-date=30 April 2020}}</ref> The brand was later bought by [[Boohoo.com|Boohoo Group]] (now Debenhams Group).<ref>{{Cite news |date=2020-06-17 |title=Boohoo swoops again to snap up Oasis and Warehouse brands |language=en-GB |work=BBC News |url=https://www.bbc.com/news/business-53075529 |access-date=2022-07-16}}</ref>
=== Mosaic Fashions === In November 2003, Oasis and Coast were acquired from PPM Ventures by a secondary management buyout, supported by [[Baugur Group]] hf. and an investor group led by [[Kaupthing Bank]] hf. Noel Ltd. was established as the takeover vehicle, which in June 2004 was renamed Mosaic Fashions, when it acquired the [[Karen Millen]] and [[Whistles (company)|Whistles]] brands.<ref>{{Cite news |url=https://news.bbc.co.uk/2/hi/business/4508501.stm |title=Clothing firm to float in Iceland |date=2005-05-03 |access-date=2019-11-19 |language=en-GB}}</ref> The company was backed by a series of investors, including [[Jón Ásgeir Jóhannesson]], [[Don McCarthy]] and Kevin Stanford.
In 2005, Mosaic Fashions hf. was listed on the [[Nasdaq Nordic|OMX Exchanges]] in Iceland. In 2006, Mosaic Fashions hf. acquired [[Rubicon Retail]], which included the Warehouse, [[Principles (retailer)|Principles]] and Shoe Studio brands.<ref>{{Cite web |url=https://www.gov.uk/cma-cases/mosaic-fashions-hf-rubicon-retail-ltd |title=Mosaic Fashions hf / Rubicon Retail Ltd |website=Gov.uk |language=en |access-date=2019-11-19}}</ref> In October 2007, Mosaic Fashions was de-listed from the Nordic Stock Exchange. In December 2007, the eveningwear brand Anoushka G was acquired. In January 2008, its interest in Whistles was disposed of.
=== Insolvency and Aurora Fashions === Mosaic Fashion entered administration on 2 March 2009.<ref>{{cite web |url=https://news.bbc.co.uk/2/hi/business/7919647.stm |title=Mosaic firms into administration |publisher=BBC News |date=2009-03-02 |access-date=2009-03-02}}</ref> Most of the businesses were immediately sold on to [[Aurora Fashions]],<ref>[http://www.retail-week.com/auroras-dawn/2007050.article "Aurora's dawn", a Retail Week article]</ref> a new company jointly owned by Icelandic bank [[Kaupthing]] - a major Mosaic creditor - and Mosaic's former management.<ref>{{cite web |url=http://www.msnbc.msn.com/id/29467437 |title=Kaupthing rescues Mosaic Fashions brands |publisher=MSNBC |date=2009-03-02 |access-date=2009-03-04}}{{dead link|date=August 2024|bot=medic}}{{cbignore|bot=medic}}</ref> The deal saw Aurora take on the majority of Mosaic's ongoing retail stores including Coast, Warehouse and Oasis.<ref>{{Cite web |url=https://www.sportswear-international.com/news/stories/MOSAIC-GROUP-FALTERS-RESTARTS-AS-AURORA-FASHIONS-1486 |title=Stories: Mosaic Group Falters, Restarts As Aurora Fashions |website=sportswear-international.com |language=en |access-date=2019-11-19}}</ref> Principles was not included in this deal, and was subsequently purchased separately by department store operator [[Debenhams]].<ref>{{Cite news |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/4948440/Debenhams-agrees-to-buy-Principles-brand.html |title=Debenhams agrees to buy Principles brand |last=Hall |first=James |journal=Daily Telegraph |date=2009-03-06 |access-date=2019-11-19 |language=en-GB |issn=0307-1235}}</ref>
== Brands == The group traded under the following brand names: * [[Anoushka G]] * [[Coast (clothing)|Coast]] * [[Karen Millen]] * [[Oasis (clothing)|Oasis]] * [[Odille]] * [[Principles (retailer)|Principles]] * [[Shoe Studio Group]] * [[Warehouse (clothing)|Warehouse]]<ref name="The Times 69293.">{{cite news |title=Shopping Basket: What Baugur Owns in the UK |issue=69293 |work=The Times |date=9 April 2008 |ref=pg.50}}</ref>
== References == {{reflist}}
[[Category:Clothing retailers of Iceland]] [[Category:Retail companies established in 2003]] [[Category:Retail companies disestablished in 2009]]