Upscale apparel retailer Oroton International is to pay US$12.4 million for hip fashion house Marcs, it emerged on Friday.

Oroton admitted it had been after an acquisition like Marcs for several years and added the purchase price was comprised of $US9.6m for equity and $US2.7m for debt and working capital.

Chairman and managing director Ross Lane said: “"Marcs fits our criteria of a brand we can own, a brand that is highly regarded and a business that performs and is run well."

He added Marcs was currently enjoying solid sales of its youth brand Baby Doll and would launch a new range of children’s apparel called Mini-Marcs sometime in 2003.