Jil Sander, the German designer fashion label, was on Monday bought by Onward, the Japanese clothing group, in a deal valuing the Hamburg company at €212m ($309m).

The sale is a boost for Change Capital Partners, the London private equity group founded by Luc Vandevelde, the former Marks and Spencer chairman, which trebled its initial equity investment in the Jil Sander label over two and a half years.