Delvaux comes into the acquisition dance, as it’s allegedly looking for a buyer. The Belgian brand, specialized in the manufacturing of luxury handbags, is owned by the Fung brothers Victor and William (Hong Kong) and could be valued at between 500 and 600 million USD. The owners have allegedly put a team of consultants in charge to explore a sale option.
Acquisition dance
The Fung brothers took control of Delvaux (brand founded in 1829 in Brussels) in 2011 with Temasek Holdings, a Singapore-based state fund. Now they are thinking of selling the brand, even contacting some potential buyers directly. According to Bloomberg, which cites anonymous sources, the Fung brothers may choose to retain a small percentage of ownership.
Between 500 and 600 million USD
Delvaux, which could be valued at between 500 and 600 million USD, claims it’s open to be bought by large luxury groups or private equity funds. This way, the Belgian brand joins the acquisition dance that is currently involving many organizations. In the first few months of 2021 many deals were closed, and many others are being negotiated. Such as the one of Etro, focused on selling its brand to L Catterton. Or (breaking news), the rumor involving Luke Meier e Arnaud Faeh, co-founders of the men’s Parisian brand OAMC, as they decided to buy back a small percentage of ownership of the latter, having it sold to Onward Italia in 2018.
Images taken from delvaux.com
Read also:
- “LVMH will still make acquisitions” (but not the most talked about)
- Delvaux lays off employees in Belgium and brings quality control to France
