Redcats (PPR) sells Cyrillus and Vertbaudet

Redcats (PPR) sells Cyrillus and Vertbaudet

French luxury company PPR has sold fashion brand Cyrillus and children’s fashion brand Vertbaudet to an investment fund, reportedly for 119 million euro. Until now the two brands were owned by PPR-subsidiary Redcats.

Exit children’s fashion

Since two years the French company was having exclusive talks with Alpha Private Equitiy Fund 6, which had made a binding offer on both brands. “The amount of the transaction was paid according to the agreement between both parties”, PPR says, keeping its cards close. According to insiders the fund paid 119 million euro for Cyrillus and Vertbaudet.

 

The sale fits PPR's new strategy of shifting the focus of the company completely to luxury products and sports. They have already sold most of the activities of Redcats, such as fashion brands for plus sizes (OneStopPlus.com, Woman Within, Roaman’s Jessica London, Fullbeauty, KingSize, BrylaneHome and Bargain Catalog Outlet) and the Scandinavian mail order activities of Ellos and Jotex.

 

Only La Redoute and Fnac left

The entire transformation, which started in 2006 with the sale of the luxury department stores Le Printemps, is almost coming to an end. Two famous subsidiaries still have to get the boot: the sale of French mail order- and e-commerce giant La Redoute starts in April, while Fnac will go to the exchange on 19 June.

 

At the end of this year the entire operation should be completed, they say in Paris. To lend weight to the transition, the company is officially renaming itself to Kering in June.

Questions or comments? Please feel free to contact the editors


Small Belgian brewery conquers Brazil thanks to playing cards

13/09/2017

Het Nest, a small brewery from Turnhout, will get its beers brewed in Brazil as well. It has struck a deal with Cervejaria Premium Paulista, which will brew and distribute the beers locally.

Price cuts drive 25 % more customers to Whole Foods

12/09/2017

Supermarket chain Whole Foods welcomed an additional 25 % of customers in the first few days following Amazon’s price cuts.

Ter Beke enters British food service industry

12/09/2017

Belgian food group Ter Beke has acquired a 90 % stake in British competitor KK Fine Foods for an undisclosed fee. The current shareholders hold onto the other 10 %.

Godiva wants to conquer the world through supermarkets

12/09/2017

Belgian praline brand Godiva will soon sell its chocolate in supermarkets all over the world after signing a deal with chains like Albert Heijn and Sainsbury’s. Previously, it sold nearly all its chocolate through its own store network.

Insight: Xavier Piesvaux' seven labours at Delhaize

10/09/2017

Can one French and several Dutch managers do what the Belgian management failed to do these past few years at Delhaize Belgium? Its new CEO will face plenty of challenges: we count at least seven.

Nestlé USA acquires food manufacturer Sweet Earth

08/09/2017

Nestlé USA has acquired American Sweet Earth for an undisclosed fee. The company mainly manufactures meat replacements, a rapidly-growing market, but also several frozen meals.

Back to top