PARIS (Reuters) - The Kooples, a French clothing label that competes with “affordable luxury” brands like Sandro or Britain’s Whistles, is in talks to be taken over by private Swiss investor Maus Freres, the companies said on Wednesday.
Maus - which bought Lacoste, the French sportswear label famed for its crocodile logo, in 2012 - entered exclusive negotiations with shareholders of The Kooples, which was founded by three siblings, the firms said in a joint statement.
The brand has developed an edgy, slightly rock-and-roll style, and sells dresses roughly in the 400 euro-range - putting it on a par with other French brands like SMCP’s Sandro and Maje or family-owned Zadig & Voltaire.
It had a turnover of 227 million euros ($258 million) in 2018, 10 years after launching, and 334 points of sale centered in Europe and the United States.
So-called affordable luxury brands are competing to carve out a following among shoppers often drawn to cheaper labels for every-day clothes or much higher-end luxury firms for “status” handbags and styles with desirable logos.
Maus, which has a big distribution business with department stores like Swizterland’s Manor, also owns Stockholm-based clothing firm Gant, and French puffer jacket maker Aigle.
($1 = 0.8804 euros)
Reporting by Sarah White; Editing by Kirsten Donovan