Struggling British handbag manufacturer Radley has been purchased by retail investment firm Gordon Brothers.

Gordon Brothers, which owns several brands including LK Bennett, Telefunken and Poundland, has acquired the Radley brand and its related intellectual property after the company was put up for sale by its private equity owner Freshstream.

The terms of the deal were not disclosed.

The acquisition did not include its stores, so Radley’s two standalone shops and 19 concessions will close at the end of the summer once remaining stock has been sold, resulting in 42 job losses.

Administrators at FTI Consulting said the administration followed “a sustained period of challenging economic conditions for the retail environment.”

The firm plans to operate Radley using an asset-light model, focusing on licensing, wholesale partnerships and ecommerce growth rather than running a large physical store estate. Gordon Brothers also aims to expand the brand into additional product categories beyond handbags, watches, jewellery, eyewear and beauty gifting.

It added it intends to strengthen the brand’s retail partnerships and grow its presence in select markets.

“We are thrilled to add another British icon to our global portfolio of brands,” said Tobias Nanda, head of brands at Gordon Brothers. “Our goal is to invest in Radley and support the company’s next phase of development, expanding the brand’s footprint in the US, UK, Australia and Asia so future generations can experience the best of British craftsmanship.”

Founded in London’s Camden Market in 1998, Radley built a strong presence in the accessible luxury sector with its handbags and accessories, but has faced headwinds recently, reporting a £2.2 million loss for the 2024-2025 financial year.

The acquisition adds Radley to Gordon Brothers’ growing portfolio of retail and lifestyle brands. The company said it continues to pursue opportunities to acquire and scale British heritage brands through global licensing and expansion strategies.

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