×
6 994
Fashion Jobs
HARRODS
Cleaning Operative- Day or Night
Permanent · LONDON
HARRODS
Uniform Security Officer (Cctv Operator)
Permanent · LONDON
FLANNELS
Beauty Brand Manager - Pat Mcgarth
Permanent · BELFAST
HUGO BOSS UK LTD.
Sales Executive - Shoes & Accessories + Bodywear & Hosiery
Permanent ·
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
GANT
Brand Consultant - Full Time - Gant House of Fraser Manchester - mw/lw
Permanent · MANCHESTER
CANADA GOOSE
Security Ambassador, Full-Time
Permanent · MANCHESTER
NEXT
Delivery Coordinator - Northampton Outlet
Permanent · NORTHAMPTON
NEXT
Sales Manager - York Vangarde
Permanent · YORK
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent ·
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · NEWCASTLE UPON TYNE
AVON
Indirect Procurement Junior Manager
Permanent · NORTHAMPTON
AVON
Internal Audit Manager Natura &CO
Permanent · LONDON
HEAD OFFICE
Customer & Marketing Planning Manager – Technology
Permanent · LONDON
PRIMARK
Visual Merchandising Manager (Level 1)
Permanent · Cambridge
ALL SAINTS
Franchise Account Executive
Permanent · London
FRASERS GROUP
Warehouse Supervisor - Evening Shift
Permanent · SHIREBROOK
FRASERS GROUP
Warehouse Supervisor - Night Shift
Permanent · SHIREBROOK
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NETHERFIELD
Ads
By
Reuters
Published
Apr 1, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

KKR in talks to buy French clothing brands Sandro, Maje

By
Reuters
Published
Apr 1, 2013

PARIS - Private equity firm KKR has entered into exclusive talks to buy a majority of French fashion brands Maje, Sandro and Claudie Pierlot, according to a source familiar with the transaction.

The acquisition of the brands, partially owned by LVMH (LVMH.PA) Chief Executive Bernard Arnault, would give them an enterprise value of 650 million euros, the source said.

Typically in French takeovers 'exclusive negotiations' to acquire an asset signal that a deal is done, but formal closure is subject to review by the target's works council.

The auction of the three labels, known for their trendy and affordable ready-to-wear garments, has generated a lot of interest in the clothing sector, partly because of a dearth of similar small and successful fashion brands available to investors.

KKR rival Carlyle was the runner-up in the process, in which French private equity firm Eurazeo and Hong Kong-based holding company Swire Pacific were also contenders, the source said.

KKR officials could not immediately be reached for comment. A spokesman for Arnault declined immediate comment.

The brands, which together operate about 500 stores, mainly in Europe, are looking to pursue an expansion in markets like Asia after sales growth of more than 20 percent in recent years.

Arnault's L Capital owns half of the 51 percent stake being sold, with Florac, an investment fund controlled by Marie-Jeanne Meyer, the former head of trading group Louis Dreyfus, controlling the other half.

The other 49 percent is in the hands of the two sisters who created Maje and Sandro, Judith Milgrom and Evelyne Chetrite respectively. It was not immediately clear whether they would also sell part of their stake to KKR.

Annual sales generated by Sandro, Maje and sister brand Claudie Pierlot, grouped under holding company SMCP, are estimated at more than 300 million euros, with earnings before interest, taxes, depreciation and amortization of 60 million, sources have told Reuters.

(Reporting by Christian Plumb; editing by Patrick Graham)

© Thomson Reuters 2022 All rights reserved.