Oroton International, the upmarket accessory company, has acquired fashion designer Peter Morrissey's retail and wholesale fashion business.The agreement is subject to a number of conditions, including an employment contract with Mr Morrissey, and is subject to the parties executing formal documentation on terms acceptable to Oroton, which is also the Australian licensee of Polo Ralph Lauren."I am thrilled because Oroton is a fantastic Australian company and it was important to me that a company came on board who understood the brand," said Morrissey.Mr Morrissey said he would retain creative control over the look of his label: "It will stay exactly the same, but I am looking forward to making it more accessible."Oroton, founded in 1938 and listed on the Australian Stock Exchange in 1987, is implementing several brand extension strategies which include the introduction of fashion accessories to compliment the existing range of leather goods. The company became the Australian licensee of Polo Ralph Lauren in 1997. The company operates 29 Oroton boutiques across Australia, New Zealand and the United States. Oroton has been available in the United States for several years through selected department stores, but is expanding in the US with several standalone Oroton outlets. This year, Oroton has opened stores in Los Angeles and South Carolina.