US fashion retailer Nordstrom is to sell apparel and accessories company Faconnable, a wholly-owned subsidiary, to Lebanon-based investment company M1 Group (M1) for $210 million.

All Faconnable’s operations will transition to M1, including design, production, licensing, distribution and operations of the four US and 37 European Faconnable boutiques. It is thought that new categories such as leather goods, children’s wear and home furnishings will be added to the brand’s offering.

Nordstrom will continue to offer Faconnable products in its stores and the transaction is expected to close at the end of August.