Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Breaking News | PPR’s Redcats to Sell Brands to Nordic Capital for $364 Million

Redcats screenshot | Source: Redcats
By
  • Bloomberg

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).

The transaction, which is subject to approval from competition authorities, should be completed “in the coming months,” PPR said in a statement today. Rothschild acted as financial adviser and Vinge acted as legal advisor to PPR in the transaction, the Paris-based company said.

PPR is shedding Redcats in pieces, having sought a buyer for the unit since 2010. The company agreed in December to sell its OneStopPlus large-size clothing business to two private- equity firms for an enterprise value of $525 million. Jotex sell homewares such as curtains and bedding online while Ellos also offers clothing and toys by mail-order.

“The sale of Ellos and Jotex will mark a further step forward in the transformation of PPR into a global leader in apparel and accessories within the luxury and sport & lifestyle sectors,” PPR said in the statement.

ADVERTISEMENT

PPR shares rose as much as 0.9 percent to 173 euros in Paris trading and gained 0.4 percent as of 9:32 a.m.

--Written by: Celeste Perri; Editors: Marthe Fourcade, Robert Valpuesta

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from News & Analysis
Fashion News, Analysis and Business Intelligence from the leading digital authority on the global fashion industry.
view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections