Baring Private Equity Asia has acquired a stake in UK retailer Cath Kidston, famed for its floral and polka dot motifs found on bags, purses and other objects it sells, from existing majority shareholder US private equity firm TA Associates, as well as the business’s management.

With Hong Kong-based Baring Private Equity Asia on board as a "substantial" shareholder, homeware and fashion retailer Cath Kidston is now looking to expand its presence in Asia, according to a statement issued by the private equity firm Tuesday.