Pepe Jeans acquires Façonnable
Pepe Jeans continues to grow its brand portfolio. The Spanish label has in fact acquired a 100% stake in French fashion brand Façonnable, which is controlled by Lebanese group M1, itself the owner of Pepe Jeans. As reported by Spanish fashion magazine Modaes, after the acquisition, Pepe Jeans intends to carry out a complete overhaul of the Façonnable business, focusing especially on the retail trade.
Façonnable was founded in Nice, France, and until 2007 owned by Nordstrom. It was then acquired by M1 for $170 million, the group’s largest investment until it purchased Pepe Jeans in 2015.
In 2013 Façonnable recorded a revenue of €47.2 million, with losses for over €30 million. The label tried in vain to recover in the last few years, but in 2015 it announced the laying off of 96 of its 448 employees and the resignation of CEO Ludovic Le Gurrièrec.
Now that M1 has sold a 100% stake in the French label to Pepe Jeans, Façonnable will still be based in Paris, but the design office will relocate to Spain.
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