David Cameron’s mother-in-Law quits luxury furniture firm OKA after US expansion row

Annabel Astor, the mother-in-law of Foreign Secretary David Cameron, is about to resign from OKA, the luxury furniture firm she founded 25 years ago.

Lady Astor, 75, is at odds with OKA’s owner, Italian firm Invest Industrial, over its rapid expansion in the US. 

She sold out to Invest Industrial in 2018 for around £40million but remained on the board as a non-executive director.

Her decision to resign comes after the owners turned down her proposal to lead a management buyout. 

The price of the offer, which she says would have been funded with family money, is not being disclosed. OKA’s expansion into the US has been troubled.

Stepping down: Lady Astor (pictured with husband Lord William Astor)  is at odds with OKA’s owner, Italian firm InvestIndustrial, over its rapid expansion into the US

But Lady Astor said that the UK side, which has 13 stores, continues to flourish. 

Sales for 2022 were £42million and adjusted profits were £6.3million. ‘I was offering a good deal,’ she said.

OKA wares include trays costing £160 and Ottomans at £1,750.

She added that she is ‘sad’ to leave and that Industrial Invest had been a supportive backer.

‘I might have another idea to start a new business,’ she said.

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