Fosun Group Is Investing In Another French Brand IRO In The Clothing Industry.

Shanghai based investment company Fosun Group

The next city.

According to the latest report of Les Echos in France, Fosun has recently invested in IRO, a French fashion brand, which is close to completion.

After the paction is completed, IRO founder Laurent Bitton and Arik Bitton will retain 40% of the company's shares, while their remaining shares and the 25% stake previously held by GUESS will be owned by Fosun Group.

The two sides did not disclose the final paction amount.

IRO was founded in 2004 by French brothers Laurent and Arik Bitton. The clothing style is inspired by street culture and punk music.

According to the information of Les Echos, the year of IRO

It is 60 million euros.

Fosun's takeover has defeated LVMH L Capital and two other private equity funds.

Fosun plans to accelerate the globalization process of IRO after joining the stock market.

At present, only 7 of IRO's 25 stores are located in France, and the rest are in the United States and South Korea.

In addition to direct stores, IRO also has its own retail outlets in 60 global department stores.

Fosun Group is currently investing in

Including Germany's fast fashion Tom Tailor, Italy high-end men's wear manufacturer Caruso, Greece Jewelry Group Folli Follie, the United States high-end women's clothing brand St. John, Israel Dead Sea mineral care brand AHAVA and British baby car brand Silver Cross.