Retail entrepreneur Kevin Stanford acquired All Saints in December last year. He said: 'Since Baugur's acquisition of Karen Millen in 2004, I have partnered Baugur on a number of investments, including our recent purchase of House of Fraser.
'Its position and extensive expertise in the retail sector will provide All Saints with further opportunities to develop the brand - not only in the UK, but also internationally.'
Financial details of the deal were not disclosed. Baugur UK managing director Gunnar Sigurdsson said: 'We believe that All Saints is capable of achieving a significant global presence.'
Baugur has invested heavily in the UK retail sector and its interests range from the Iceland supermarket chain to toy store Hamleys. It also led a consortium that last month snapped up the House of Fraser department store group.
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