Fashion house Jil Sander being sold

Posted on September 4, 2008 
Filed Under fashion news

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Fashion house Jil Sander AG, a maker of luxury ready-to-wear clothing for men and women, will be sold to a Japanese apparel group, the private equity firm that owns it said Monday.

In a statement, Change Capital Partners said it reached a deal to sell Jil Sander to Tokyo-based Onward Holdings Co. Ltd and its European subsidiary GIBO Co. SpA for E167 million (US$244.2 million).

The deal comes after Hamburg-based Jil Sander orchestrated a turnaround since 2005, with operating profit reaching E6.1 million in 2007 compared with a loss of E12.9 million in 2005 as it expanded its distribution networks in the U.S., Europe and Japan, and opened more stores.

Change Capital acquired Jil Sander in 2006 from Prada. More…

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