Luxury fashion retailer Hervia has been acquired by Rami Cassis, the founder of investment firm Parabellum Investments.

Cassis said he plans to take Hervia into its next phase of expansion by exploring new segments such as childrenswear, and launching new partnerships with emerging designers in the UK, France, and Italy.

He also plans to bolster the retailer’s customer experience by investing in its online platform.

Cassis said in a statement: “I’ve always had a strong interest in fashion, so this is a great opportunity to pair my business expertise with a personal passion.

“Hervia has a rich legacy as a brand and strong foundations as a business, and our ambitious plans are based on driving future organic growth as well as exploring new acquisitions for Hervia.”

Hervia was founded in Manchester in 1993 by Oscar Pinto-Hervia, who will stay on as CEO following the deal and will retain a stake in the business.

As well as its online store, Hervia has a brick-and-mortar flagship in Manchester called Hervia Bazaar.

The company sells apparel, jewellery and accessories from designers including Raf Simons, Maison Margiela, Rick Owens, and Yohji Yamamoto.

Alongside Hervia’s flagship store and online platform, the deal also includes the operation of the Adidas Y-3 flagship store in Mayfair, London.

Hervia founder Pinto-Hervia commented: “It’s an exciting time for Hervia as we look to onboard fresh, new brands and open additional stores.

“I was struck by [Cassis’] enthusiasm and his growth plans for Hervia align with our ambitious vision for the company. His strong track record of leading and managing companies ensures he’s a great fit to take us forward into the next phase of expansion.”