Whistles, the women’s wear brand that has been sitting quietly – but successfully – on the sidelines of British fashion since the 1970’s, has been bought from Mosaic Fashions by Baugur (a main investor in Mosaic) in an acquisition deal together with Jane Shepherdson, best known as the former brand director of Topshop.

The Whistles company will be separated from Mosaic with immediate effect, while Bauger will be the lead shareholder of a newly formed company of which Shepherdson will become CEO. She will be joined by former Topshop colleagues Keith Wilks as finance director and Jo Farrley, as marketing director.

Whistles (whistles.co.uk) currently has over 40 standalone stores throughout the UK, 40 concessions within department stores, as well as an international online store.

"I look forward to drawing on the brand's heritage and developing it into an exciting and stimulating collection and store environment.,” said Shepherdson. “We see a great opportunity to create something unique for the woman who loves great design, isn't scared of a little edginess and who wants to reference but not slavishly follow trends."