Ailing ready-to-wear brand Naf-Naf has reportedly been acquired by one of its suppliers, SY International.

Naf-Naf had been placed into receivership in mid-May. 

The deal, which sees it taken over by Turkey's SY International via its French subsidiary, SY Corporate France, will save 75% of jobs in its French operation, it is understood.

According to the French press, the Bobigny Commercial Court ruled on the takeover on Friday (19 June).

SY specialises in textiles and owns factories in Turkey and Morocco. SY Corporate France has supplied Naf-Naf for over 30 years.

Naf-Naf trades out of 160 stores and in 2018 was sold to a consortium led by China's La Chapelle. Les Echos reports that SY Corporate France in its bid outlined a strategy to control the entire supply chain from the purchase of textiles to physical sales. The acquisition of Naf-Naf, it said, allows it to continue its "vertical development strategy aimed at integrating distribution brands in its primary manufacturing activity".

The publication cited Naf Naf CEO Luc Mory saying: "The association of a historic manufacturer with the brand's know-how is innovative and represents a solid guarantee of sustainability for our company."