Philipp Plein receives preliminary offers
Switzerland-based fashion house Philipp Plein has received preliminary offers from a number of international private equity funds and fashion houses, Italian-language daily Il Sole 24 Ore reported. The report cited market rumours claiming that other offers are likely to be received in the next few days.
The report claimed that Philipp Plein is likely to sell a majority stake rather than a minority holding as previously thought.
The item added that the sale is expected to conclude in 1Q19 with the fashion house likely to be valued at around EUR 700m.
The article said that Philipp Plein closed 2017 with turnover of EUR 250m, a figure which is expected to grow by 15%-20% in 2018. The report said that the company's largest market is Russia which accounts for 10%-15% of turnover.