Fusion Retail Group has sold its newly revamped Jag brand to fellow multi-brand fashion retailer, Apparel Group.

The transaction is subject to the final completion of due diligence. Apparel Group also owns  Sportscraft, Saba, and Willow.

Jag has 27 standalone stores and is distributed across 68 Myer stores and a number of independent wholesale accounts.

Fusion has been on the lookout for potential buyers for its Colorado footwear brand, however, it seems that Jag has instead been snapped up.

Fusions other retail brands include Mathers, Williams, and Diana Ferrari.

Daniel Bracken, CEO, Apparel Group said the company is thrilled to be adding Jag to its portfolio of Australian brands.

“It is the perfect fit for the Apparel Group. We will use our significant experience and infrastructure to build the Jag brand into a key retail destination,” Bracken said.