GERMANY: Escada sells Primera's Biba label
German fashion firm Escada has sold the final unit of its Primera Group subsidiary, Biba, to women's fashion company Gelco.
The holding company takes over the Biba retail chain and its 530 plus own retail stores and franchise areas.
It was agreed to keep the conditions of the transaction confidential, a statement by Escada said. The sale is subject to approval by anti-trust authorities.
The disposal of Biba follows the sale of Primera's Laurèl, Apriori and Cavita brands to Mutares AG, in Munich, late last month.
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