FRANCE: Skiwear firm Fusalp sold to Lacoste family members
French luxury skiwear and clothing firm Fusalp has been acquired by Lacoste family members Philippe and Sophie Lacoste, along with the former executive director Alexandre Fauvet.
The firm has been owned by Joël Gleyze for the past 30 years.
The grandchildren of Lacoste's founder have taken a 77.6% stake in Fusalp, which was created in 1952, with Favet holding 8% of the capital. Management fund, Midi Capital has held a 12.4% stake since June last year.
Last year Fusalp created a "premium" collection - 'Fusalp 1952' - offering high-definition iridescent fabrics for women and matt shape-memory fabrics for men.
Philippe Lacoste, who becomes Fusalp's chairman, says he's looking to bring the company "to the forefront again [in the segment] as part of a long-term vision
but without changing everything."
Fusalp acheived a break-even performance in 2013 from turnover of EUR8m (US$10.9m).
- Yarn-forward rules weigh on Vietnam TPP potential
- Footwear to see "significant" gains from TPP
- Is China really going through a slump?
- Can supplier ratings reform purchasing practices?
- UK retailers key to domestic manufacturing growth
- Gap to close 75 stores amid "disastrous" Q1
- H&M criticised for India, Cambodia labour abuses
- US Q1 in brief: Buckle, Destination XL
- M&S to see "departure" of sourcing chiefs?
- Victoria's Secret discontinue swimwear to simplify