We acquired iconic, British luxury brand, Feather & Black in April 2020. Founded in 2005, this homeware retailer is best known for its hand-stitched mattresses, high-end bedding and bedroom furniture. We bought the business from a leading bedding and mattress company headquartered in Sweden and operating throughout Europe.
Two years prior to our involvement, Feather & Black had been acquired through an administration process. The business was heavily stressed and burdened by expensive leases at loss-making stores as well as the general well-documented challenges in UK retail.
We quickly recognised that at its core was business with a strong brand, customer loyalty and deep heritage within the UK homeware market. Our strategy, following a thorough review of the leasehold estate, was to refocus the business to an online-only proposition. Feather & Black benefited from a surge in digital sales – as bricks and mortar retailers were forced to close from March 2020 as a result of the Coronavirus crisis. To make the most of this hiatus period, we worked intensely bring stability, restructure the business to exit all loss-making stores and relaunch on a solid, ecommerce platform which became an attractive proposition to trade buyers.
In July, following just four months of ownership, Feather & Black was sold to the UK’s number one specialist bed retailer, Dreams, to continue its focus on giving its customers the best online experience. The acquisition, turnaround, market repositioning and subsequent sale of Feather & Black, preserved jobs and secured the future of an established UK brand during an intensely difficult time for retailers.