Benetton Group SpA announced on Friday it has agreed to sell its Nordica ski and ski-boot unit to fellow Italian firm Tecnica Group SpA.

The fashion giant said the final price will be agreed on Febraury 1 following a valuation of Nordica’s assets and inventory at the end of this month.

Benetton, which is trying to sell its non-core units, added "the intellectual property alone" of the ski-boot firm was 38 million euros and it will acquire a 10 per cent stake in Tecnica for 15 million euros.