Cath Kidston, the brand which put such English country staples as cabbage roses and polka dots in kitchens across the UK, is about to take on a decidedly Asian flavour, after Baring Asia took a controlling stake.
Reports suggested Baring has bought a stake owned by US private equity firm TA Associates, giving it a majority shareholding.
Meanwhile, chairman Paul Mason will step down after six years, to be replaced by former chief executive William Flanz.
Cath Kidston, which experienced a 3,500 per cent rise in website traffic last month after it launched a Winnie The Pooh range, has 226 stores in 15 countries across Asia and the Middle East, FashionUnited.com reported.
Some 70 per cent of its 226 stores are located outside the UK, while the number of Asian stores has increased from 91 to 133 since 2014. Last year it bought its Japanese franchise business from Sanei International.
“We are delighted to begin a new chapter with Cath Kidston by acquiring a controlling stake in the business," Flanz said.
"Paul and TA Associates have provided great support to the company over the years. Their input has been very valuable and we have truly enjoyed the partnership since our initial investment, but are now looking forward to driving the company forward as the majority owner.
“We believe the Cath Kidston brand and business have great potential to grow across the globe, and are committed to delivering on that potential and securing the longer-term success of the company.”