The transaction represents Inc’s debut into the retail sector, and marks the beginning of a three-year “growth and development plan”.
The expansion plans will be led by Dan Shaw, who has been appointed as managing director at the group.
Shaw, who has previously acted as a board director at Jones Bootmaker, as well as holding senior roles at Gant UK and Tommy Hilfiger, acknowledged that the deal came from a “clear synergy” between the two firms.
He told Drapers: “Having spent quite some time working in an advisory capacity with Jack [Mason] and his team, there was a natural, clear synergy and shared vision with what we both want to achieve on the high street.
“It’s a very exciting opportunity that will allow me the freedom to draw upon my own experience to build a strong retail offer for the brands within the Inc Retail Group.”
Mason, CEO at parent company Inc and Co, who owns a number of digital businesses including Laundrapp and Skylab, said he is “proud to be continuing to diversify” the group’s operations.
He added: “Acquiring Knomo was a natural move for us, with the brand’s exquisite range of backpacks, briefcases, and laptop bags already well-loved across the UK, making it the perfect brand to blend into the Inc Retail offering.”