EBTM, the online retailer and wholesaler of music-inspired fashion, has sold its Lowlife accessories brand to Plus Brands.

EBTM said the sale is part of a restructuring of its wholesale business, and calculates the reduction in overhead will save it around£600,000.

EBTM will receive a cash consideration of£200,000 from the sale. Plus Brands will also pay an additional 20 per cent of global sales of the Lowlife brand in excess of£500,000 in 2009, up to a cap of£100,000.

EBTM, which purchased the Lowlife brand as part of its acquisition of Lowlife Corporation in May 2007, will retain exclusive distribution rights for the brand in the UK.

EBTM chief executive Richard Breeden said: “The sale of this non core asset strengthens our balance sheet and will allow us to invest further in the online side of the business which, despite the broader retail market conditions, is experiencing record sales conversions.”

Plus Brands is owned by Dale Masters, Lowlife Corporation's founder. Masters is a major shareholder and former director of EBTM.

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