Paris Spring Announced The Acquisition Of Italy'S Top Men'S Wear Brand Bly Noni
Beijing time November 8th afternoon, according to the French "Le Figaro" reported that the French fashion and retail giant Paris spring group (PPR) announced this morning wholly-owned acquisition of Italy's top men's clothing brand Bly Noni (Brioni), but did not disclose the specific paction amount.
Over the past few months, the group has been negotiating with Bly Noni brand representatives, and other peers and investment funds are also keen to bid for the brand.
In September of this year, sources said that Paris was interested in buying Italy in spring.
Bly Noni brand
The purchase price can be up to 350 million euros.
Paris's spring only stated in a statement that Bly Noni created a turnover of 170 million euros last year, and the company, which has only 1800 employees, has made a huge profit and is still expanding.
It is reported that the Bly Noni brand, founded in 1945, now has 74 stores and a wide range of global retail outlets.
The paction is expected to be completed in the first quarter of 2012, and has yet to be approved by regulators.
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