Yorkshire-based premium menswear independent The Priory has been sold to ecommerce firm Internet Fusion for an undisclosed amount.
The Priory opened its first store on Manor Street in Bridlington, Yorkshire in 2012, selling brands such as Carharrt and The North Face. In 2014 the business opened a second shop nearby at Victoria Mill, which sells Folk and more formal labels, such as Oliver Spencer, as well as homeware. The store also includes a barber shop and a bar.
The Priory co-founders Vince Clark and Leo Jarvis are remaining in the business and will run The Priory day to day.
Internet Fusion will take over all warehousing and logistics for the retailer.
The business plans to move the Manor Street store into the upstairs of the Victoria Mill shop, which is currently used for warehousing space. The smaller Manor Street store will then be converted into a store for Blackleaf, an outdoorwear fascia owned by Internet Fusion.
Internet Fusion, a UK-based etailer for sports clothing and equipment, was founded in 2006. It owns a range of niche websites including blackleaf.com, webtogs.com, and fitnessfootwear.com. Internet Fusion was bought by British businessman Nigel Cayzer 18 months ago. Cayzer is chairman of two London-listed funds: Aberdeen Asian Smaller Companies Investment Trust and Oryx International Growth Fund.