Starbay and Halo announced that they have agreed to end any further negotiations on a partnership agreement. The negotiations, originally announced in March 2011 outlined a possible investment transaction, which would have seen Halo holding a minority stake in Starbay.
Jean Mouret, Founder and Chairman of Starbay and Timothy Oulton, Creative Director and owner of Halo jointly announced the amicable decision which leaves both companies open to pursue other opportunities.
"There is no particular reason other than the fact the two companies had other opportunities they wanted to pursue," said Mark Hafer, president of Atlanta-based Starbay. "The two owners have a very amicable relationship and a great deal of regard for each other, and I am sure we will continue that amicable relationship. But at this point there were just other opportunities to pursue other than a joint venture agreement."
Hong Kong-based Halo produces an eclectic mix of case goods, upholstery and accent pieces. Mixed media elements such as leather and metal give much of the line an industrial look.
Starbay's line includes British Colonial, Campaign era-inspired case goods. Much of the line has been inspired by luxury ocean liners.
Hafer said the agreement to terminate negotiations does not affect Starbay financially. At the Atlanta market in July, it plans the US launch of its 45-piece case goods collection called Avant Garde that is made with American black walnut solids and veneers. The collection was introduced world-wide at Maison Object in January and also plans to show this collection along with its Signature Collection in High Point in the fall.
About Starbay: In early 1990, the Starbay concept was born from the legendary and classic furniture designs from the British Colonial Campaign era and designs salvaged from great luxury ocean liners. Starbay set about designing and manufacturing the highest quality desks, tables, chests and trunks to capture to re-live the spirit and the legend of world travel. They use the noblest materials offered by nature to reflect the commitment to quality and attention to detail. Starbay furniture now can be found in the best stores across Europe, the United States, Russia and Japan (www.starbay.com)
About Halo: Halo has been at the forefront of innovation in the furniture industry since it was established in Britain in 1976. The Group is a world leader in the premium lifestyle market servicing a global appetite for exquisite hand-crafted furniture and accessories. With its international headquarters based in Hong Kong, Halo supplies a network of retail partners in over 60 countries around the world (
www.haloasia.com).