US: PPR sells plus size business to private equity firms
French apparel group PPR has entered into an agreement to sell its US plus size business OneStopPlusGroup to private equity firms Charlesbank Capital and Webster Capital as it works to focus on its luxury and sportswear businesses.
The Gucci, Yves Saint Laurent and Puma owner said it will sell the business for US$525m. The deal includes the OneStopPlus.com, Woman Within, Roaman's, Jessica London, fullbeauty, KingSize, BrylaneHome and Bargain Catalog Outlet brands.
"The sale of OneStopPlus Group will mark a further step forward in the transformation of PPR into a global leader in apparel and accessories within the Luxury and Sport & Lifestyle sectors," a statement said.
"Together with the sale of the Sports and Leisure Group to Northern Tool + Equipment, which was announced last month, the sale of OneStopPlus Group will constitute the sale of PPR's entire Redcats USA business."
The deal is expected to close during the first quarter of 2013.
Gucci has lost the latest bout in a trademark battle against Guess in Italy. ...
Ralph Lauren has confirmed the appointment of former Gucci executive Laura Lendrum to the position of president of the group's US stores division....
Women's wear retailer Cache has appointed Arnold Cohen to the post of executive vice president and chief marketing officer....
French luxury and sportswear group Kering (formerly known as PPR) saw first-quarter revenue edge up 1%, driven by growth in its luxury division....
Skatewear brand Volcom is set to increase its focus on sustainability, becoming the latest Kering-owned brand to undergo an Environmental Profit and Loss. ...
The online and luxury segments are set to provide a silver lining in what is an otherwise gloomy outlook for Australia's fashion industry, according to research released by IbisWorld. ...
French luxury group Kering has closed the sale of its Vertbaudet and Cyrillus children and family clothing brands to the Alpha Private Equity Fund 6 for EUR119m (US$153.9m)....
French luxury group PPR, which will be renamed Kering in June, has acquired French crocodile skin company France Croco. ...
- Where next for 3D design and prototyping?
- What Marks & Spencer's numbers mean for clothing
- Balance essential in garment supply chain
- Apparel buyers miss out on commodity cost savings
- Tanzania adds to Africa’s apparel sourcing mix
- Brandix named PVH ‘Global Supplier of the Year’
- Earthquake damage at Bangladesh garment factories
- Ascena Retail to buy Ann Taylor owner for $2bn
- China and India to exploit trade relationship
- AGOA delays drag on sourcing decisions