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Phase Eight, the fashion chain with 310 stores in the UK, is to be acquired by The Foschini Group of South Africa for £238m.
Phase Eight is planning to open up to ten new fashion stores a year in the UK over the next few years.
Phase Eight is planning to expand its chain of 93 fashion stores and 150 concessions with up to 15 new stores and 15 concessions this year.
Phase Eight has sold a 49% stake in its fashion retailing business to a consortium of investors that includes Kew Capital.
Phase Eight is looking to expand its chain of 61 fashion stores with up to 20 new outlets a year.
Phase Eight, the chain of 46 fashion stores and 44 concessions, has undergone a £27m management buy-out and is now planning a major expansion programme.