Fri, 22 Aug 2014 | BUSINESS SALE
Furniture retailer DFS has purchased furnishings brand Dwell for an undisclosed amount, in a move designed to consolidate their existing relationship.
DFS began providing financial assistance to Dwell in February, helping to prop up the limping business after being hit by a drop in customer spend and other recession-related troubles.
Dwell’s founder Aamir Ahmad came back to the business, which had been placed in administration, after having left in 2012. With 23 stores at its peak Dwell now has just five – three in London, one in Manchester and one in Glasgow.
Dwell is now a wholly owned subsidiary of DFS, and will be run as a separate entity.
Ian Filby, DFS’ chief executive, said: “This partnership builds on our successful relationship with Sofa Workshop and our exclusive brand partnerships with French Connection, Country Living, and House Beautiful, all of which assist in strengthening DFS’s appeal and broadening our reach to customers.”
The move will also open up new possibilities for DFS to appeal to younger customers, not usually targeted by the brand.
Mr Ahmad, who set up Dwell in 2003 as a mail-order business, commented: “The management team has always believed in the potential of the brand and, with DFS as our parent company, we can fully embrace and accelerate new growth opportunities.”
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