Breaking news: House of Fraser acquires Biba
It seems that Biba has been rescued for the second time. House of Fraser has reportedly bought the cult '60s label and its archives from Liechtenstein-based investment fund Hachel International Foundation.
According to Drapers, the retailer will reintroduce the label via its 30 department stores and online store in time for autumn/winter 2010. House of Fraser will also launch two diffusion lines including Biba Blue range priced at £50 for denim and Biba Gold limited edition pieces priced at around £200.
"We will be making it a lot more appropriate for today and picking up an essence of Biba with flamboyant, sexy prints in silks, knits and dark denims with soft washes," said House of Fraser executive director for womenswear and accessories Stephanie Chen.
Biba fell into administration last year just two years after it was revived by Bella Freud. Originally founded by Barbara Hulanicki in the Sixties, these days Hulanicki is more renowned for her Topshop range and recent documentary.