Sapinda buys .....y mini dress underwear firm La Perla after Fosun discussions stumble.
MILAN (Reuters) -- Investment company Sapinda Holdings said upon Monday this had obtained Italian luxury-lingerie maker La Perla, after a difference over shifting production away of European countries derailed order talks with China's Fosun (0656. HK), according to two resources.
Conglomerate Fosun, which lately snapped up .....y mini dress French fashion label Lanvin, acquired entered distinctive talks to purchase the brand last December.
Yet negotiations stalled because the Chinese language group wished to move creation of La Perla's lacy underwear to China, two sources with knowledge of the discussions stated.
Discussions with Sapinda, a vehicle co-founded by The long sleeve midi dress german language entrepreneur Lars Windhorst, started shortly soon after, the source stated, and the group had pledged to maintain manufacturing in Italy and Portugal, in which the group includes a plant that employs three hundred people.
Fosun, which also owns France leisure group Club Mediterranean and includes a stake in Chinese underwear-maker Cosmo Female (2298. HK), could not instantly be reached for comment.
Sapinda, that has offices in Amsterdam, Bremen, London and Hong Kong and investments which range from real estate to agriculture, do not reveal any economic details of the acquisition.
This individual bought the struggling group for 69 million pounds ( million) at a court-led public sale, through family members holding Pacific cycles Global Administration, and spent over three hundred million pounds in the brand to finance an enlargement into Asia and somewhere else.
"I understand that Sapinda has got the necessary assets to take La Perla to another level and continue my vision of creating a global high-class brand, yet keeping creation in European countries, " Scaglia said within a statement.
Sapinda's Windhorst stated the company was "prepared to further invest" in La Perla.
Based in London, the brand opened in 1954 in the northern Italian language town of Bologna, reputed for its man made fibre industry. Besides lingerie, the business makes ready, nightwear and beachwear-to-wear clothing.
The group produced sales of 140 mil euros in 2017 and it is expected to make your money back by the end of 2018, Scaglia said within a recent interview to Forbes.
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