Kering Open Cloud Group acquired 40% stake in KER Altuzarra Kering luxury industry equity _ Chinese

designer Joseph Altuzarra

WWD according to market sources said, the French luxury group Kering SA (KER.PA) Open Cloud Group acquired a minority stake in the French designer Joseph Altuzarra personal brand Altuzarra deal, Kering SA (KER.PA) Open Cloud group equity ratio of about 40%.

news also said the Altuzarra will be independent of the Kering SA (KER.PA) Open Cloud group operation, but no relationship with the group's companies.

no fashion Chinese network September 6th reports: according to WWD, the French luxury group Kering SA (KER.PA) Open Cloud group completed the acquisition of minority stakes in the French designer Joseph Altuzarra personal brand Altuzarra trading on Thursday.

Joseph Altuzarra a year ago has decided to bring in outside investors. Prior to this, New York based Altuzarra has been made by Joseph Altuzarra and its family of self financing development. He told WWD: "we need financial support, also need the infrastructure, professional knowledge and experience, especially on the luxury industry... I need to be able to provide a knowledge of the industry and the synergistic partners." In Kering and SA (KER.PA) Open Cloud group had several meetings, Kering SA (KER.PA) Open Cloud group to Joseph Altuzarra to extend the olive branch.

Kering SA (KER.PA) Open Cloud group luxury sector operations director Alexis Babeau said: "we are very pleased with the Altuzarra investment prospects for brand development. Joseph full of wit, in just a few years time has been recognized by the industry... Kering bought a minority stake in Altuzarra brand, means that the company can still maintain the independence, by Joseph Altuzarra and family orientation. Although there is no formal integration into the Kering luxury sector, Altuzarra will still get from Kering wide range of professional knowledge and experience."

Joseph Altuzarra declined to Kering SA (KER.PA) open equity ratio cloud group, but stressed that at this stage is very important to keep the family holding. After the completion of the transaction, Altuzarra will maintain the existing management structure unchanged, Joseph Altuzarra's mother was the chief executive of Altuzarra, in the brand appointed last year Karis >