MF Brands Group finalises sale of The Kooples
Last Thursday, Swiss group MF Brands, owner among others of Lacoste, Aigle and Gant, announced the sale of affordable luxury label The Kooples to French industrial group Verdoso.
'The Verdoso group, recognised for its entrepreneurial approach and its track record in transforming and supporting companies, will now be backing The Kooples in its expansion,' said MF Brands in a press release.
In January, MF Brands (formerly known as Maus Frères International) said it wanted to 'focus on businesses in line with its DNA,' as reported by FashionNetwork.com. MF Brands bought The Kooples in 2019.
Through this operation, whose value was not disclosed, the Swiss group has ceded to Verdoso, which specialises in investing in struggling companies, complete control over the entire business of The Kooples.
The label was founded in Paris in 2008 by the three Elicha brothers, and sells a full range of premium ready-to-wear and accessories for women and men.
MF Brands Group is present in nearly 100 countries with over 2,400 stores and employs 12,000 people, according to the press release, which also indicated that Verdoso 'has taken direct or indirect control of over 30 companies' since it was founded in 1997.
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