PARIS, France -- PPR SA, the French owner of Gucci, said one of the Swedish buyout firm Nordic Capital’s funds agreed to buy Ellos and Jotex, two Scandinavian online home and apparel brands owned by its Redcats unit, for an enterprise value of 275 million euros ($364 million).
LONDON, United Kingdom — The Savigny Luxury Index (SLI) gained 2.8 percent in January, outperforming the MSCI World Index (MSCI) by a touch over 1 percent. Positive economic news coming out of China sent the SLI into a mini-rally at the beginning of the month, however mixed corporate results announcements took some of the wind out of its sails. From a mergers and acquisitions perspective though, the year has started off with a
Hong Kong Luxury Sales Rebound on Confidence in Mainland (Bloomberg) “Hong Kong’s luxury sales rebounded in a sign that confidence is returning to a Chinese economy that probably picked up pace in the final three months of last year after a seven-quarter slowdown.” PPR in Talks to Sell Redcats Unit to Alpha Fund for $156 Million (Bloomberg) “PPR SA owner of the Gucci brand, said it’s in talks to sell the
Prada 9-Months Net Profit Jumps 50% Amid Continued Strong Demand (Dow Jones) “Chief Executive Patrizio Bertelli said Thursday that the company’s business has continued to grow at a rate that has exceeded its expectations in recent months, as the luxury goods purveyor reported a strong rise in nine-month earnings figures amid resilient demand for ultra high-end goods.” Mulberry sees improvements after first-half
Net-a-Porter CEO: It’s no secret we’re launching a major fashion magazine (Wired) “Online fashion retailer Net-a-Porter is planning to launch a printed magazine within the next 12 months, according to CEO Mark Sebba, speaking at the Business Leaders Network’s Making it Mobile event.” PPR, U.S. private equity firm talk on Redcats: sources (Reuters) “The Redcats mail order unit of French retail and