FRANCE: Redcats to sell Ellos brand to Nordic Capital
The company said the sale of the Scandinavian home shopping brands will mark a further step forward in the restructuring of PPR as it works to focus on its luxury and sportswear businesses.
Nordic Capital Private Equity Funds invest in large and medium-sized companies, primarily in the Nordic region.
PPR has been slowly divesting brands from its Redcats division after it failed to find a buyer for the whole business. The company completed the sale of its OneStopPlus US plus sized clothing business to private equity firms Charlesbank Capital Partners and Webster Capital earlier this month.
The retail group entered into negotiations with Alpha Private Equity Fund 6 (APEF 6) last month for the sale of Redcats' Cyrillus and Vertbaudet children and family clothing brands for EUR119m.
PPR earlier this month said it was confident of continued growth in 2013, after posting an increase in full-year net profit as strong sales of its luxury brands offset weakness in its sports division.
Asia, particularly China, will continue to drive growth in the luxury market despite a slight slowdown in recent years, according to new research. ...
Qatar-backed Tamburi Investment Partners (TIP) has completed its acquisition of French department store chain Printemps, in a deal that is estimated to be worth EUR1.8bn (US$2.4bn)....
French luxury and sportswear group Kering, owner of the Gucci, Bottega Veneta and Yves Saint Laurent brands, has seen its first-half profit plummet 64% after it was weighed down by a loss on the sale ...
French luxury and sportswear group Kering (formerly known as PPR) has appointed Alexandre de Brettes as CEO of its designer brand Christopher Kane....
French luxury group Kering has set up an advisory group to help advise and advance its sustainability strategy....
French luxury and sportswear group Kering (formerly known as PPR) has reportedly shortlisted six candidates to buy its Redcats mail order division La Redoute....
Francesca Bellettini has been named as the new chief executive officer at luxury label Yves Saint Laurent, replacing Paul Deneve who has resigned to take up a new post in another industry....
French luxury group PPR has officially changed its name to Kering, after its AGM yesterday (18 June). ...
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