Times Square buys Temperley London majority stake, big growth plans revealed

A controlling stake in British fashion label Temperley London has been sold to Dubai-based Times Square Group and its investment arm Luxutte Capital, with the aim being to double down on the brand’s strength in the UAE but also to take it to the next level globally.

Founder Alice Temperley remains in creative control of the label with CEO Luca Donnini also still in his post, but Times Square chief Ritesh Punjabi is set to be a major influence with the company saying he’s the “go-to figurehead for luxury retail leadership in both the Middle East and internationally”.

The company has come through some tough times and was hit hard by events such as Brexit and the pandemic, the latter having a huge impact given that lockdowns meant the parties, red carpets, special occasions and weddings that fuel the label’s sales were all cancelled.

Times Square’s new majority ownership takes it into another league with Ritesh Punjabi saying: “Embarking on this journey with Temperley London and Alice herself, marks a defining moment for Times Square Group. We are looking forward to creating a legacy that extends beyond Dubai and the UK. This partnership is not only about business, but about redefining the luxury fashion and lifestyle landscape in the UAE. Operating from the heart of Dubai allows us unparalleled opportunities, and we consider ourselves extremely fortunate to contribute to the city’s rise as a beacon of luxury retail on the world stage.”

The UAE is hugely important to the Temperley business. It has boutiques in its premier luxury retail destinations, including the Dubai Mall, and a newly opened one in The Galleria Al Maryah Island in Abu Dhabi. 

But expansion plans also include the opening of a flagship store in London “dedicated to the full Temperley London experience”. 

Alice Temperley founded the business in 2000 after training at Central Saint Martins and the RCA. On Tuesday she said: “This alliance opens a door to new horizons, allowing the Temperley London collection to extend its reach into bags, shoes, ready-to-wear, accessories, and swimwear. I am incredibly excited about this new journey with Times Square Group and looking forward to spending even more time in UAE engaging with our loyal clients in the GCC and the wider region.”

And Luca Donnini added: “The strong funding and financial restructuring will allow a substantial improvement in our supply chain management, but equally significantly the reputation and retail experience of Time Square Group in the traditional luxury retail environment will be key to the future expansion of Temperley London and allow for a full lifestyle representation and elevated customer experience of our different product lines.”