TFG London, the owner of Phase Eight and Whistles, has bought British womenswear brand Hobbs for an undisclosed sum.
Hobbs has undergone a two-year turnaround programme led by chief executive Meg Lustman. It was put up for sale by private equity owner 3i in January.
It achieved sales of £120m in the year to January and currently has more than 140 outlets across stores and concessions in the UK.
Hobbs sells online in 49 countries, and to the US via its own stores and department stores including Bloomingdale’s.
Ben Barnett, chief executive of TFG London, said: “Hobbs is a strong British brand with rich design heritage. Meg Lustman and her team have successfully repositioned and reinvigorated the brand, offering an excellent platform for further growth.
“We share their ambitions, not only in terms of maximising the success of their well-established UK presence, but also in their strategic approach towards leveraging the international appeal of the brand, via their physical store portfolio, carefully aligned concession partners and evolving ecommerce proposition.”
Lustman added: “This acquisition by TFG represents a further step on our journey to develop a truly successful international and omnichannel Hobbs brand.”