Fashion retailer Monsoon Plc has agreed to buy 21 stores from electronics retailer Dixons Gropu Plc.

The purchase, financial details of which were not disclosed, will give Monsoon an extra 41,700 square feet of retail space for its namesake and Accessorize chains, an increase of 12 per cent.

It will also give the company a presence in another 16 towns in the UK.