Global Brands Group has bought TLG Brands, which owns labels including handbag business Fiorelli, from its private equity owner Synova Capital.
Hong Kong-based Global Brands Group Holdings licenses accessories brands including Michael Kors, Kate Spade and Juicy Couture.
TLG Brands, formerly known as The Lunan Group, owns handbag brands Fiorelli, Modalu and Nica, which are sold in more than 400 stores in the UK.
TLG acquired the Fiorelli brand in 1995 and founded Modalu as a premium leather handbag brand in 2004 and Nica as a contemporary collection in 2005.
It was acquired by Synova Capital in July 2008 for an undisclosed sum.
TLG Brands and Synova Capital both declined to comment.