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


Carrefour cuts thousands of jobs in favour of e-commerce

23/01/2018

French hypermarket group Carrefour is laying off thousands of employees, CEO Alexandre Bompard announced today. His new transformation plan, focused on e-commerce, is intended to turn Carrefour into the “global leader in food transition”.

Unilever will cut jobs at Belgian retail sales team

22/01/2018

Unilever Belgium will restructure its team of store representatives and cut eleven jobs. The company confirmed that to RetailDetail.

This is how fast Amazon is growing in food

22/01/2018

E-commerce is still underrepresented in food sales, but Amazon’s American and European 2017 growth numbers are impressive. Are we close to a tipping point?

Amazon opens first cash register-free store

22/01/2018

Amazon will open its first cash register-free store in Seattle today, near its main office. The trial with its own employees will now be extended to the general public.

Will Unilever acquire tonic brand Fever-Tree?

19/01/2018

Tonic brand Fever-Tree appointed a new director, Kevin Havelock. Considering he leads Unilever’s sodas division, there is speculation that Unilever may acquire Fevertree Drinks and that has boosted its share.

Aldi Nord and Aldi Süd collaborate for animal welfare

18/01/2018

Aldi Nord and Aldi Süd will join forces for a unique collaboration: they will launch their own animal welfare quality mark. “Fair & Gut” (Fair and Good) will launch in Germany for poultry products, but steadily expand.

Back to top