US apparel group Perry Ellis International has completed the purchase of all intellectual property assets of clothing retailer Anchor Blue.

The group made a successful US$500,000 bid on 3 March in an auction for the Anchor Blue and Miller's Outpost trademarks and all other intellectual property assets associated with Anchor Blue.

The transaction was approved by the bankruptcy court in Delaware and closed on Friday.

"As the Anchor Blue name continues to have a loyal consumer following, especially within the denim category we feel the benefit of adding these brands to our current portfolio is two fold.

"First, it will allow us to further develop our current denim business across all brands and second, as Anchor Blue continues to be very well known along the West Coast and among the younger Hispanic community, we feel it will allow us to continue developing our connection to a younger demographic," said president and chief operating officer of Perry Ellis International, Oscar Feldenkreis.