New York—Another major private equity investment firm is looking to snap up fashion retail brands. Rumors began circulating last week that KKR (formerly known as Kohlberg Kravis Roberts & Co.) is rumored to be in negotiations to buy a controlling stake in French brands Sandro, Maje and Claudie Pierlot.
Purportedly valued at 650 million euros and partially owned by Bernard Arnault, LVMH chairman, the trio of brands received a lot of interest from a various of investors “partly because of a dearth of similar small and successful fashion brands available to investors,” Reuters reported.
While KKR wouldn’t confirm the rumors, sources said other bidders for the businesses included Carlyle Group LP, Swire Pacific Ltd. (based in Hong Kong) and Eurazeo, a French company.
The trio of brands, which together operate about 500 stores mostly in Europe, are looking to pursue an expansion in markets such as Asia and the United States after sales growth of more than 20% in recent years.