French luxury goods group PPR will acquire Brioni, an Italian high-end menswear group that has provided the costumes for James Bond in the film series,
the
Financial Times
reported.
PPR will buy 100% of family-owned Brioni; the price wasn’t disclosed.
Analysts have estimated that the company is worth about 350 million euros, the
FT
article said. Brioni “has struggled in recent years,” the report noted.
The family shareholders could not agree on strategy. which led them to decide to look for external investors. [Brioni] shut its women’s wear line this year to focus on its men’s because it did not have the resources to develop two, according to Brioni executives.
PPR is headed by billionaire François-Henri Pinault. Earlier this year, Italian jeweler Bulgari was acquired by another French conglomerate, LVMH, fraying diplomatic relations between Italy and France, the
FT
report noted. (Source:
Financial Times,
Nov. 8, 2011.)
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