The luxury shoe retailer Harry‘s of London has been acquired by US billionaire Charles Cohen.
Cohen purchased the firm from Palladin Consumer Retail Partners which has owned a majority stake in the retailer since 2014. He has subsequently placed himself in the role of chairman.
The US property mogul and film producer, estimated to own over 12 million sq ft of real estate across the country, has stated this move would kick-start global expansion for the 16-year-old company.
“Harrys of London has been a brand I have supported and respected for a long time, bringing a unique mix of luxury, contemporary craftsmanship and cutting-edge technology and design,” Cohen said.
“We see huge potential for expansion across the US, London, Asia and the Middle East, and I am eager to help the team grow Harrys on a global scale.”
The retailer was founded in 2001 and has succeeded in expanding across the Middle East in recent years, alongside its retail footprint in the UK.
This comes just weeks after Cohen‘s company acquired a controlling stake in luxury menswear retailer Richard James.