The Milchior family has launched an operation to become the major shareholder in clothing and lingerie retailer Etam.
 
Already owning almost 12% of Etam's capital, it is planning to acquire the 23.25% stake held in the group by Fitema Participations, according to indications from France's financial markets regulator, the AMF.
 
Etam's other shareholder is the Tarica family (10.03%), with the remainder of the company's capital, around 55%, quoted on the stock exchange. 
 
Following the operation, the Milchior family's shareholding in Etam is expected to rise to 38.98% with the Tarica family stake increasing to 11.11%.
 
Etam reported a net profit of EUR7.2m (US$10.07m) in 2008 from a turnover of  almost EUR1bn.

By Stuart Todd.