Frasers Group Plc, the parent of Sports Direct, bought Savile Row tailor Gieves & Hawkes.
Gieves & Hawkes was put up for sale in July after its owner, Hong Kong-listed Trinity, Ltd., entered liquidation last year. It has five UK stores, including the flagship outlet on Savile Row which has been home to British tailoring for more than 200 years.
The company, which has held royal warrants since 1809, has dressed King Charles III, George VI and George V, as well as the princes William and Harry. It also dressed Admiral Lord Nelson, the Duke of Wellington and Winston Churchill.
Beyond Sports Direct, Frasers owns the House of Fraser and the Flannels designer casual wear chain. It also recently bought the fast fashion online specialists Missguided and I Saw It First.
Michael Murray, the chief executive of Frasers, said: “We are delighted to have acquired Gieves & Hawkes, securing a long-term future for an iconic 250-year-old brand. This acquisition further adds to our portfolio of strategic investments in luxury and premium brands.”