Land of Leather Brand to be Sold by Metis Partners
Glasgow-based intellectual asset specialists Metis Partners has been appointed by joint administrators, Deloitte LLP, to sell off the intangible assets, including goodwill and intellectual property, of Land of Leather Limited which folded last year.
Land of Leather was one of the UK’s leading leather sofa specialists offering a wide range of leather sofas to the mass market. Formed in 1985, at its peak the company employed 850 people in 109 stores across the UK and Ireland.
As the first national retailer that specialized solely in retailing leather sofas it spent a reported £21.4 million on media and advertising between 2008 and 2009. The brand remains a household name and it is believed that this could have significant value to any acquirer.
Stephen Robertson of Metis Partners said: “The Land of Leather brand has a very high level of awareness amongst consumers. It is protected by European Community, UK and Irish trade marks as a leather furniture retailer and this makes it, I believe, a very attractive proposition for any retailer of any kind of leather items wishing to capitalize on the millions of pounds which have been invested in its substantial and consistent advertising campaigns over the years.
“As well as trade marks, several domain names relating to the Land of Leather brand are also included in the sale and we expect there to be keen interest given the outstanding levels of consumer recognition attached to it”, he said.
All offers and / or notes of interest should be directed to Nat Baldwin at Metis Partners by 4.00pm on Tuesday 15 March 2011.
