Jamey Hargreaves, son of Matalan founder John Hargreaves, has invested money to help designer Julien Macdonald create a luxury brand around his name.

Macdonald announced the investment, an undisclosed amount, at the International Herald Tribune Supreme Luxury Conference in Moscow. Macdonald will open stores and franchise outlets as well as creating a design team.

Hargreaves will chair the company, while Macdonald will be creative director and Chris Spira will be chief executive.

"I am very excited to have found a partner who shares my vision for the Julien Macdonald brand and is wholly committed to its long-term success," Macdonald said.

Hargreaves said: "With his unique style, great talent and energy, Julien is uniquely positioned to build a leading British luxury brand to rival the biggest names in fashion. This is the beginning of what will be a long and fruitful journey together."

Hargreaves has 20 years of retail experience at Matalan, where he held various roles, including head of menswear and director of marketing.

Macdonald also designs the Star by Julien Macdonald range for the Designers at Debenhams.