FRANCE: PPR to sell lingerie brand Orcanta
Currently finalising the sale of the Printemps department stores chain, PPR is poised to sell its Orcanta lingerie brand to French group Chantelle.
Set up a decade ago, Orcanta's chain of 64 shops - all of which are located in France - generated a turnover of EUR49m (US$62.44m) in 2005. The sale price is estimated at EUR 42.5 million. The sale of Orcanta is seen as a further step in PPR's withdrawal from the multi-brand garments sector.
With its products marketed in close to 100 countries, Chantelle has an annual turnover in excess of EUR 300 million, 60% of which is earned abroad. Its three brands are: Chantelle, which is sold in department stores, Passionata, which is sold in hypermarkets, and Darjeerling, a chain of more than 100 boutiques.
The group, which claims to be France's leading lingerie manufacturer, also has subsidiaries in the US, Mexico, Europe, the UAE and Taiwan.
By Stuart Todd.
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