Sasha, the ladies fashion chain, has been sold to Cork-based Dynasty Accessories for an undisclosed sum. The chain, which has 31 stores nationwide was founded in 1983 by Mr Terry O'Brien, who will remain on as chairman.

Dynasty is owned and managed by Mr Cyril Walsh and has 25 outlets. The combined group will have a projected turnover of €50 million in 2005 and will employ 400 staff.

Dynasty is acquiring Denholme Group, an unlimited company that trades as Sasha.

Mr O'Brien said that Sasha had been approached by a number of potential buyers but opted for Dynasty "as it means that Sasha remains in the control of its existing management team and the ethos of the company will be retained". He said Sasha was profitable but refused to give a figure.

The chain will be expanded to 50 stores by 2010, according to Mr Walsh.