Rykiel Sold

Sonia Rykiel has sold 80 per cent of its label to investors Fung Brands Ltd, leaving the family with a 20 per cent minority stake. As reported on January 26, the fashion house's current president, Nathalie Rykiel, has been made vice-chairman of the board.

"This partnership joins the forces of Sonia Rykiel and its exceptional bonds to clients with Fung Brands' know-how, its knowledge of the sector and access to international markets," the companies told WWD. "Benefiting from the strong and distinctive identity of the brands, the partners wish to develop the company internationally as a true global brand of international luxury."

talks with investor Fung Brands as the Hong Kong-based company bids to acquire a 80 per cent stake in the French label. Rykiel head of brand, Nathalie, will be appointed vice chairman of the board once the agreement has been finalised, WWD reports. No financial details have yet been announced.

Sonia Rykiel may soon be selling a minority stake in a bid to speed up its expansion.
"I have not taken any decision," said the label's president Nathalie Rykiel. "I have only just started analysing the possibility. I don't know if it's something I want to pursue, but I want to develop the brand. It has huge potential, in Asia obviously, but elsewhere also. I know that I can go much faster and further with outside help, but I am not even at the stage of contemplating whether the partner should be French or international."
Rykiel has already approached Edmond de Rothschild Corporate Finance chairman Laurence Danon to help her look into options for the family-owned business. If the sale were to take place, the label would be in good company - both Prada and Salvatore Ferragamo have recently floated shares on the stock market, while British brand and Duchess of Cambridge favourite Issa yesterday announced it had sold a 51 per cent stake to Mohamed Al Fayed's daughter, Camilla.






ELLA ALEXANDER 21 February 2012
http://www.vogue.co.uk/news/2011/07/12/sonia-rykiel-considers-selling-minority-stake