Pierre Cardin willing to sell fashion label for EUR 1bn; receives EUR 2.5bn offer for Maxim's
Pierre Cardin, the French fashion designer, has stated he will sell his business to a buyer prepared to pay EUR 1bn, no less, a newswire report said. Cardin, 94, said he would rather die without completing a sale than drop the price, Bloomberg reported.
Cardin has indicated several times in the past few decades that he would entertain a sale of his fashion label, the report said. The exact value of the business is unknown but its Societe de Gestion Pierre Cardin arm, which collects license revenues, generated EUR 32.5m revenue and EUR 3.3m net income last year, according to information from the French clearinghouse Societe.com.
Cardin said his Maxim’s restaurant business recently attracted an offer of EUR 2.5bn but he is not rushing to tie up a deal, the item reported