We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 20, 20206:27am

Vivarte: creditors take control of the group

The president of the French company, Patrick Puy, has explained that the new owners of the group plan to invest up to 75 million euros to boost its brands.

Sep 5, 2019 — 4:18pm
Mds
Save

Vivarte: creditors take control of the group

 

 

Vivarte opens a new chapter. The French fashion company, that was one of the biggest ones of the sector, has finally switch hands to its creditors, as stated by the president, Patrick Puy, in an interview with Franceinfo.

 

The executive also stated that the new shareholders plan to invest between 70 and 75 million euros to boost the brands of the group and this could show benefits this same year.

 

 

 

 

“We no longer have a debt and that is a formidable news”, stated Puy, that also explained that Vivarte has a cash of 1.4 billion euros, 10,000 employees, 200 million of cash available and zero debts”.

 

Vivarte already closed the sell of San Marina, one of the brands that continued looking for a buyer and Puy doesn’t rule out that the new owners contemplate more sells. “My interest is not in the group, but in the future of each brand; that everything we sell is in good hands”, stated.  

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...