Li & Fung

Nathalie Rykiel (left) with designer April Crichton at Sonia Rykiel show. AFP/Getty Images

Nathalie Rykiel (left) with designer April Crichton at Sonia Rykiel show. AFP/Getty Images

Fung Brands Ltd just announced they were in exclusive negotiations to buy 80 per cent of French fashion house Sonia Rykiel, for an undisclosed price. Interesting.

This will be Fung Brands‘ first ready-to-wear acquisition since it was formed last year with Jean-Marc Loubier, latterly of LVMH and Celine, as chief executive. They’ve been moving pretty quickly, having already also bought French shoe brand Robert Clergerie, and Belgian luxury handbag house Delvaux. (Fung Brands is the subsidiary of Fung Capital, the private investment arm of the Fung family, which also owns the Asian manufacturing powerhouse Li & Fung).