Following a complete brand turnaround, Gordon Brothers has announced the sale of womenswear brand Orsay.
The omnichannel label, as well as its archives, related trademarks and other intellectual property, has been sold to a private investor from the Czech Republic operating under Orsay International.
The advisory and investment firm, which also owns the rights to Laura Ashley and American Apparel, said the buyer would continue to invest in Orsay while growing its presence in Europe online, in stores and with existing franchises.
The sale comes months after Gordon Brothers acquired the brand with the intention of transforming the business.
In a release, the Boston-based company said that since the acquisition it had streamlined operations, created a “nimble” team, restructured the brand, optimised its product offering, invested in its e-commerce channels and expanded its franchisees.
Speaking on the deal, Frank Morton, chief investment officer at Gordon Brothers, said: “Our firm has the unique ability to acquire, value, lend to, invest in and reimagine brands to accelerate their transformation and support continued growth.
“Under new ownership, Orsay will continue to reach consumers throughout Europe and embark upon its next chapter of growth.”
The sum and conditions of the sale were not disclosed.