Korean fashion retailer E-Land has bought Italian leather goods and accessories brand Mandarina Duck in a deal that paves the way for its relaunch around the world.

The sale by Group Mosaicon was completed on Friday (29 July) and shares were passed through to E-Land Group Europe.

It has also brought in former Salvatore Ferragamo executive Christopher Bizzio as the new chief executive officer of Mandarina Duck.

The Korean giant is one of the biggest fashion and retail businesses in South Korea, with a turnover of more than $7.5bn.

It has expanded its presence in Europe to build a portfolio of 60 national brands and 40 private brands including Ellesse, New Balance, Berghaus, Teenie Weenie and Marie Claire. Last month it also added weaving and tartan specialist Lochcarron of Scotland to its line-up.