Private equity firm Palladin Consumer Retail Partners has acquired a majority stake in luxury men's footwear and accessories business Harrys of London in a move that is expected to launch the brand into its next growth phase.

Harrys shoes are sold in retail stores across the UK, United Arab Emirates, Kuwait and Japan, online and in department and speciality retail stores in more than 20 countries.

The Palladin investment will provide Harrys with capital to expand its operating team, open additional retail stores and invest in new initiatives to fund growth including marketing, merchandising, product development, and e/m-commerce.

Jennifer Moores, one of the founding shareholders of Harrys is participating in the investment; other founding shareholders and the existing senior management team led by chairman Marty Wikstrom, and creative director Kevin Martel will remain significant shareholders in the company.

Financial terms of the investment were not disclosed. 

Wikstrom said Palladin's expertise, support and leadership will provide creative insights and operational improvements that will be instrumental in capitalising on the strength of the Harrys of London brand.

"The Palladin investment will allow us to reinvest in the business, increase marketing and development programmes, and accelerate expansion," she said.