During the presentation of its Silhouette chair (featured on the front cover of Q20), Quantum screen and finish samples this week at MYS, furniture designer and manufacturer Linley announced the introduction of new "strategic investors".
Known for its bespoke furniture, the British brand has seen record profits this year with international sales having tripled over the past 12 months. In a bid to expand its reach to new international markets, Malaysian investors Nazir Razak and his partner David Chua have acquired a majority stake in Linley, with plans to grow the brand abroad.
"The new investors knew of the brand and love the history behind the company," explained Anna Sweeting, managing director at Linley. "They see themselves as strategic investors, which means that management will stay the same. By investing in the brand they are endorsing what we've done in the past three years and so they don't plan on changing our direction."
When asked about the possibility of future investment in the business Sweeting told us that they had what they needed to move forward and to grow the business. She explained that the new investors have assigned representatives to sit on the board of directors. "As we grow, we are becoming much more of a structured company and this new expertise sitting on the board will help.
Plans are also in place to extend the Summit range by Linley, with work underway on a new sofa, a dining table and a coffee table. "Over the years we've done lots of collaborations with other brands but they have all been with companies that share our values, which is important," said Sweeting. "While we are only working with Summit currently, we would be open to new opportunities."