French luxury conglomerate PPR is expected to sell its Cyrillus and Vertbaudet
childrenswear brands to Alpha Private Equity Fund.
The sale is likely to net the company 119 million euros as the company re-focuses its brand portfolio with high-end fashion and sports brands.
PPR, also the parent company of Gucci, Stella McCartney and Alexander McQueen, has further been selling off parts of its Redcats mail-order business after failing to find a buyer. The sale of Cyrillus and Vertbaudet is expected to be finalised in the coming months.
In the US, PPR sold its plus-size business to private equity firms Charlesbank Capital Partners and Webster Capital for 525 million dollars.