Japanese investment fund Advantage Partners (AP) is to buy Vietnamese fashion brand Elise and its affiliate companies.

This transaction marks AP’s first foray into Vietnam. Going forward, AP will focus on accelerating Elise’s growth, using its experience in women’s fashion investments in other markets.

Founded in 2011, Elise is a leading Vietnamese fashion label targeting women aged 20-45. It currently operates 95 stores across the country.

Last year, Elise was reported to have been acquired by Uniqlo parent Fast Retailing however, the Japanese group has since denied the move.

Advantage Partners is a private investment firm with asset platforms in Asia, and offices in Tokyo, Hong Kong, Singapore and Shanghai.