The founders of contemporary fashion retailer Bolongaro Trevor have sold their remaining 50% stake in the business to its Middle Eastern co-owners for an undisclosed amount.
Stuart Trevor and his wife, Kait Bolongaro, sold 50% of the business to father and son Muhammad Arshad Jalil and Omar Jalil in December 2014 for a six-figure sum. They have now sold the Jalils their remaining stake.
The Jalils, who operate oil distribution companies in Singapore, Dubai and Pakistan, will now oversee the day-to-day running of the company.
Trevor, founder of AllSaints, and Bolongaro set up Bolongaro Trevor in 2006. It has two stores in London and one in Leeds. Its store in Spitalfields, east London, closed in 2014.
Trevor told Drapers they decided to sell the business to spend more time with their three young children. They are also working on a few consultancy projects and will be seeking out new challenges.
They have designed the autumn 16 collection for Bolongaro Trevor and moved all production to nominated suppliers in Pakistan. The new owners plan to roll out new stores in shopping centres in the US, Saudi Arabia and Dubai.
Trevor added: “We have had the most fabulous 10 years, created another totally original brand from scratch, which has sold all over the world. We have had so many amazing members of staff, colleagues and customers, many of whom have become great friends and several that have gone on to have great jobs in our industry. We look forward to the next 10 years.”