SHANGHAI :
China's La Chapelle Seeks to Buy All of French Retailer Naf Naf's Equity
Zhang Yushuo
DATE:  Nov 27 2018
/ SOURCE:  yicai
 China's La Chapelle Seeks to Buy All of French Retailer Naf Naf's Equity China's La Chapelle Seeks to Buy All of French Retailer Naf Naf's Equity

(Yicai Global) Nov. 27 -- La Chapelle  Fashion plans to acquire the remaining 60 percent stake in French  women's clothing and apparel firm Naf Naf to own it completely. 

LaCha Fashion 1, a unit of La Chapelle,  will pay EUR35.3 million (USD40 million) to buy out Trendy Pioneer and  East Links International and gain a full control of LaCha Apparel II  Sarl, which is a Luxembourg-based owner of Naf Naf, according to the  Shanghai-based parent's statement. The firm still needs regulatory  approvals for the transaction. 

Naf Naf is not expected to have a  significant impact on La Chapelle's profit and loss this year, the  Chinese firm said, adding that the future impact depends on the success  of integration.

La Chapelle bought 40 percent of the  Epinay-sur-Seine-based firm in June. The Chinese company, which owns  brands such as Othermix, Marc Ecko, Jack Walk, O.T.R, Siastella and  Gartine, logged a 30 percent decrease in net profit in the first nine  months this year. 

Naf Naf operates almost 490 retail  outlets in France, Spain, Belgium and Italy. Its operating loss was  EUR6.5 million (USD7.4 million) last year and EUR3.4 million in the  first half of this year. 

Editor: Emmi Laine 

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Keywords:   La Chapelle,NafNaf SAS,French