Licensed giftware company Half Moon Bay confirmed at Harrogate’s Home & Gift show earlier this week, that it had acquired the Shruti brand, product range and customer list. Shruti, which specialises in homewares, fashion accessories and giftware, was founded by Michaela Davies, who has been retained as head of product. The deal was completed at the end of last week on July 13.
Speaking to GiftsandHome.net at Harrogate, Half Moon Bay’s sales manager Ben Craddock commented: “Half Moon Bay is the umbrella company and will maintain Shruti as a standalone brand, so it will continue to have its own stand at trade shows,” he confirmed. “Although we will be bringing everything together operationally, there will continue to be two separate design teams – one for Half Moon Bay and one for Shruti.”
Continued Ben: “We are a very ambitious company, and looking for growth. The acquisition gives us a platform to enter new markets, enabling us to cross-sell Shruti and Half Moon Bay to our customer base. Naturally, we’re all very excited and can’t wait to get started!”
The acquisition includes the purchase of the warehousing, offices, showrooms and operations for Shruti, with the company continuing to hold open weeks at its Warminster showroom. “For Shruti, it’s business as usual,” Ben stated.
Top: Ben Craddock, sales manager, Half Moon Bay, is shown on the company’s stand at Home & Gift, Harrogate, earlier this week.
