Perceva looking to buy
Vanity Fair Brands Europe
Is Vanity Fair Brands Europe about to open the page on a new chapter? The European division of lingerie group Vanity Fair Brands (VFB), which includes Lou, Variance, Vanity Fair, Best Form and Cherry Beach as part of its portfolio, is about to change hands. Indeed, it seems French private equity group Perceva has entered into exclusive negotiations with American group Fruit of The Loom, its owner since 2007.
The Paris-based subsidiary and its brands could thus be back under the French banner soon. And Perceva's profile is not insignificant, since it is a specialist in the relaunch and redeployment of companies. In the past it has notably invested in Monceau Fleurs and Dalloyau. With the lingerie market going through a difficult period, Vanity Fair Brands Europe has already undergone a vast reorganisation over the past few years, with the most recent changes in 2013.
Indeed, to be more attractive to potential buyers, Vanity Fair Brands Europe revamped its portfolio and initially pulled out of Spain. It then launched a new label from Paris, under the name Vanity Fair, to better cover the mid-level lingerie segment, between its luxury label Lou and its most affordable ones Variance and Best Form.
If Perceva actually acquires the French lingerie group, it isn't known yet if it will continue to restructure it. The firm's politic is to invest in struggling companies bring them back to profitability. Today, Vanity Fair Brands Europe boasts a revenue of 55 million euros and has 300 employees, mostly in France.
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