A group of Chinese firms are in talks for a takeover of the brand name of French fashion giant Pierre Cardin.
“There is such a matter. Mr Cardin is considering selling the China and the overall global brand,” said Fang Fang (方方), Pierre Cardin’s chief representative in China. “He is not in talks with only one company. We are now in talks with quite a few interested parties ... not necessarily Chinese companies.”
The Shenzhen Commercial Daily said yesterday that the Jiansheng Trading Company (健生貿易) in Guangdong Province had offered 200 million euros (US$280 million) to acquire the brand.
It quoted Jiansheng officials as saying they hoped a deal could be completed within a month.
Fang refused to confirm the names of the Chinese bidders, but said a joint bid between two companies from Guangdong and Zhejiang provinces had been made.
“This is the price that reports are saying they offered,” Fang said. “Other bidders have offered higher and lower prices.”
She said existing licensees of Pierre Cardin, some of whom have worked with the company for decades, would take priority.
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