Swiss group MF Brands Group, notably the owner of Lacoste and Aigle, said on Monday it has entered “exclusive negotiations” with French company Verdoso with a view to selling The Kooples, in order to “focus on businesses consistent with its DNA.”
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Verdoso specialises in investing in struggling companies, and the operation is said to involve the sale of “all the assets linked to the brand The Kooples,” as MF Brands Group stated in a press release sent to the AFP agency.
The Kooples was founded in Paris in 2008 by the three Elicha brothers. It sells ready-to-wear and accessories for women and men, and is positioned in the affordable luxury segment.
“The decision stems from MF Brands’s intention to reposition the brand in order to ensure significant growth, and is aligned with the group’s strategy of focusing on businesses consistent with its DNA, through a portfolio of premium global brands,” said the same source.
The operation will “notably depend on a consultation process with the company’s employee representatives,” according to MF Brands, which said it is present in “nearly 100 countries with over 2,400 stores.”
