LONDON — Designer Alice Temperley is stepping away from the business she founded in 2000, which is now majority owned by the Dubai-based Times Square Group LLC.
Her company, Temperley London, said in a brief statement Wednesday the designer is leaving “with the backing of the team and house she has helped build.”
It said further details on the appointment of the new leadership team and a new design director will be shared in due course.
Temperley sold a majority stake in her brand to Times Square in 2023, and has been presenting her colorful bohemian-flecked seasonal collections during London Fashion Week. As recently as last February, Temperley said she was on the hunt for a new managing director for the brand.
She normally holds seasonal appointments at the brand’s flagship on Sloane Street in London, which has recently been refurbished with interiors fabrics, trimmings and cushions she designs for the British brand Romo.
In 2023, Temperley told WWD in an interview that she was “relieved and excited” to have sold to Times Square.
“We have been through really tricky times, from Brexit to COVID, which was hugely challenging to everyone in our business, especially brands like ours, which are based in the U.K. and focused on evening and bridal.”
The move to take on a strategic partner, she said, “is to take us to the next level.”
The acquisition also allowed her to step away from the logistics, finance and operations side of the business. “I can really focus now on new product categories,” she said.
The Dubai-based Times Square LLC has interests in an array of businesses from tech to retail, and operates brands including Manolo Blahnik, Zadig & Voltaire and Furla in the Middle East.
Ritesh Punjabi, founder and chief executive officer of Times Square LLC, said the acquisition of Temperley London was a defining moment for his group. “We are looking forward to creating a legacy that extends beyond Dubai and the U.K.”
Prior to selling to Times Square, Temperley had restructured her brand in 2021 after placing the company into administration. During the pandemic, she moved her operations to her native Somerset, England, where she has been doing VIP and bridal appointments and hosting events.