Luxury retailer Timeless has been acquired by a Chinese firm, with a reported valuation of $500 million.
Timeless, which sells luxury footwear, watches and watches accessories, has also announced plans to launch a new line of high-end luxury watches later this year.
The sale, which took place on Monday, was announced by Timeless co-founder and CEO John Cappellini.
Timeworn will continue to operate as a division of Timeless International Group.
The new company will also include an online store, a digital media hub and a full range of Timeworn branded products.
Timeworns online store will be based in Singapore and will feature a range of brands including Timewomen, L.L.
Bean, Timberland, Vans, and Timewatch.
Timeless will also continue to supply luxury watches in addition to Timewear.
Timewords is owned by Chinese tech giant Huawei and has a team of 100 employees in Shanghai.
Timeworks brands include the Huawei Watch, the Huawei Watches, and the Huawei Chronos.
Timeworlds brands include Timeworthings, Timewords and Timeworld.
Timeworks products include watches, shoes, wallets, accessories, earphones, wristbands and more.