Apparel company VF Corporation has bought one-third of Mo Industries, owner of the Splendid and Ella Moss women's sportswear brands, with the option to buy the rest of the firm early next year. 

Los Angeles, California-based Mo Industries Holdings Inc is owned by founder Moise Emquies, who serves as chief executive officer and president, and private equity firm Summit Partners.

Splendid and Ella Moss are premium brands focused on contemporary knit tops sold through premium department and specialty stores. They have combined revenues of more than $80m.

"We've stated our intent to grow in the women's contemporary sportswear area, and both the Splendid and Ella Moss brands have demonstrated impressive growth and the ability to attract a loyal consumer following through superior products," said Mike Egeck, president of VF's Contemporary Brands coalition.

"Working with Moise and his team will allow us to broaden our expertise in the important knit tops category and will provide synergies with both our 7 For All Mankind and Lucy brands."