September 1, 2008
Onward to Acquire German Luxury Brand Jil Sander
Tokyo, Sept. 1 (Jiji Press)--Major Japanese apparel group Onward Holdings Co. said Monday that it will acquire German luxury apparel brand Jil Sander for 167 million euros.
Onward will purchase all outstanding shares in Luxembourg-based Violine S.a.r.l., which runs the Jil Sander operations, from three investment firms--two from Britain and one from France--in early October.The Japanese company will aim to reinforce its overseas operations through the acquisition.
Jil Sander is operating in many regions, including the United States, Europe and Asia. Sales totaled 125 million euros in the year that ended in January.
Italian luxury brand Prada acquired Jil Sander in 1999, but sold it in 2006.END
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