Pierre Cardin. I would intend to sell the business




The world-famous fashion designer, 88-year-old Pierre Cardin said he was willing to give up his fashion house over a billion euros. "I want to sell it now. I understand that after a few years I will not be, as the case should continue, "- he said the designer has no heirs. Cardin chose a good time to sell the business. Following the acquisition of the Italian manufacturer LVMH watch and jewelry Bvlgari for € 3, 75 billion. Capitalization of fashion houses has increased significantly. Now for the first time in the last decade the industry is in a phase of mergers and acquisitions. Even a relatively small brand like Jean-Paul Gaultier, negotiating with investors. Several years ago, Cardin has already tried to sell his business for € 500 million., But did not find a buyer. The current price of € 1 billion. market experts also believe overpriced, considering a realistic estimate of € 200 million. The designer has already met several times with some British investors and investors from China and USA. However, it is unknown who will become the new owner of the business Cardin. The main condition for sale: at the helm of the fashion house will remain until the last Cardin. "I will remain creative director, - says the designer. - It is important to maintain the brand image. "

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