PPR luxury group selling its American plus-size clothing business
PPR announces that Redcats has entered into a definitive agreement to sell OneStopPlus Group, its plus-size business in the United States, to Charlesbank Capital Partners and Webster Capital for an enterprise value of USD 525 million.
OneStopPlus Group consists of the OneStopPlus.com, Woman Within, Roaman’s, Jessica London, fullbeauty, KingSize, BrylaneHome and Bargain Catalog Outlet brands.
The sale of OneStopPlus Group will mark a further step forward in the transformation of PPR into a global leader in apparel and accessories within the Luxury and Sport & Lifestyle sectors, stated PPR luxury group. Together with the sale of the Sports and Leisure Group to Northern Tool + Equipment, which was announced last month, the sale of OneStopPlus Group will constitute the sale of PPR’s entire Redcats USA business.
The transaction is expected to close during the first quarter of 2013.
Distributed in more than 120 countries, PPR generated revenues of €12.2 billion in 2011 and had over 47,000 employees at year end. The stable of PPR’s brands include: Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Puma, Volcom, Cobra, Electric, Tretorn and Fnac.
