The London luxury fashion retailer Machine-A is to get new majority owners.
London-based fashion agency Tomorrow Ltd., whose portfolio also includes brands such as Martine Rose, Coperni and Charles Jeffrey Loverboy, is said to have transferred ownership of Machine-A to a group of private investors, reports WWD.
The fashion retailer is now managed by Steven Ma, the founder of the accessories label of the same name, who is a long-time cooperation partner and friend of Machine-A founder Stavros Karelis. Karelis, who remained active as Creative & Buying Director after Tomorrow took over four years ago, will now play a key role in the company, according to the trade magazine. Ma now plans to push ahead with expansion in “important regions” of the fashion retailer and strengthen key markets such as China.
The news comes just a few weeks after Tomorrow parted ways with streetwear brand A-Cold-Wall.