Courrèges getting ready to open up its capital for development

Courrèges, an emblematic brand of French fashion from the 60s and 70s, is getting ready to open up its capital to accelerate its development and change its scope.

Bought four years ago by Jacques Bungert and Frédéric Torloting, former co-presidents of the Young & Rubicam agency, the label created by André Courrèges in 1961 first underwent some major renovations. Today, "it is ready for a change in scope. It needs to find its range and its strength, that is our goal," co-president Jacques Bungert told Reuters.

With this in mind, the company is currently finalising a process to open up its capital, stated Frédéric Torloting, citing an operation involving some twenty million euros which would thin out the two owners shares but still allow them to maintain control of the company.

The co-presidents did not specify whether the investors are from the industrial or the financial sector.

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