Asian Brand Buying Continues

The Chinese investment company Fung Brands has acquired 80 percent of Sonia Rykiel stock. 20 percent remain with the family.

Sonia Rykiel was founded in 1968, the daughter, Nathalie Rykiel, is at the helm now.

The brand is distributed in some 90 countries with turnover of 90 Million Euro, down from more than 100. But the company is still profitable.

Fung Brands is an investment vehicle, founded a year ago, by the Fung family. The Fung family is the majority shareholder of Li & Fung.

Li & Fung has been on an acquisition and licensing spree in the USA for years, buying some 11 labels and brands.