Iro up for sale, Rothschild advising - Les Echos
Iro, the French fashion house founded by the Bitton brothers in 2005, has been put up for sale, with Rothschild appointed to advise on the matter, French daily Les Echos reported.
The report, which did not reveal the source of its information, said that several US investors have already expressed their interest for the business, in which Laurent and Arik Bitton would retain a minority shareholding.
Iro operates 30 stores worldwide and its goods are also sold via 90 points of sale, including luxury department stores such as Barneys, Harrods, and Selfridges.
The business has a profit margin of 20% and generates annual revenues of EUR 60m, the report added.
Les Echos