Stylo has sold its Shellys brand to Hong Kong-based footwear supplier Eternal Best Industries.
The sale includes the Shellys brand name and intellectual property associated with the brand.
Last year Stylo slimmed back its Shellys portfolio, culminating in the closure of its flagship at London Oxford Circus - the most famous shoe shop in the UK.
The cash generated from the sale is likely to be used to help Stylo reposition its core Barratts business as a family footwear chain, offering more brands alongside a new invigorated own label offer.
Chairman and chief executive Michael Ziff said: “The sale of the Shellys brand is a further move by Stylo to concentrate on its core retail business of Barratts, Priceless and concessions in other retail clothing stores.”
Stylo acquired Shellys for £1.5 million in 2003.
Last month the footwear group bought the Dolcis name and 10 of its shops out of administration.