Home / Knowledge / News / Apparel/Garments / China's Fosun Intl acquires French clothing brand Iro
China's Fosun Intl acquires French clothing brand Iro
06
Jul '16
Courtesy: IRO
Courtesy: IRO
Chinese investment company Fosun International has added another fashion label to its portfolio with the acquisition of French apparel brand Iro. According to media reports, the founders of Iro – brothers Laurent and Arik Bitton – will retain a 40 per cent stake. Fosun International has acquired the 25 per cent stake owned by the Marciano family, founder of Guess Group, along with the remaining shares, making the Chinese company a major shareholder of Iro.

The deal is valued at about 130 million euros.

Iro was founded by the Bitton brothers in Paris in 2004 and the brand added a men's clothing series in 2011. Iro has many loyal fans, including super models and fashion bloggers like Kate Moss, Rosie Huntington, Gigi Hadid, and Aimee Song.

With annual sales of about 60 million euros, Iro's stores have reached several capital cities, including Paris, New York, London, and Rome. At present, the company has seven stores in France and 25 stores outside France, including four owned stores in the US which is reportedly its largest market with sales ratio up to 50 per cent. In addition, Iro has over 40 counters in high-end department stores.

Fosun is a Chinese company with diversified operations, including fashion and retailing. It is also the owner of the well-known French resort group Club Med. The company and its management funds have invested in many overseas consumer brands, including Greek fashion brand group Folli Follie, American high-end women's clothing brand St. John, Italian high-end custom men's clothing Caruso, and German fashion lifestyle major Tom Tailor. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search