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London label Osman sells stake

British fashion label Osman has sold a stake in its business to London-based private equity firm Luxcite. 

Luxcite bought the stake for an undisclosed sum.

Osman Yousefzada, who founded the eponymous label 10 years ago, said: “My partnership with Luxcite will see additional hands-on management to enable us to elevate the brand to the next level.”

Luxcite chief executive Clare McKeeve added: “[We] consider the brand’s elegant aesthetic to be a clear fit for our portfolio of luxury and lifestyle brands.”

The private equity group also invested in Chinese fashion label Shanghai Tang earlier this year.

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