Chinese Canudilo has acquired 51 % of the Belgian fashion brand created by designer Dirk Bikkembergs and has instantly announced its ambitious plans for the brand.
The brand will open a new large store in Macau next year, followed by another five large Chinese cities. Its new owner wants an Asian focus at first, but it will also add new stores in the United States as Bikkembergs currently only has a web shop over there. Canudilo wants to invest some 60 million euro into the expansion.
The company paid the Italian shareholders Zeis Excelsa and SNV 40.7 million euro for 51 % of the shares, while the Italians hold onto 24.5 %. They will also keep manufacturing the brand's shoes and collections.
Canudilo, a fashion brand itself, has some 300 stores in China, while it also has more than 100 franchise stores for brands like Salvatore Ferragamo, Emporio Armani, Max Mara and Givenchy.