Fashion Line Jil Sander Has A New Owner
Well it looks like this rumors we heard at the end of July were true, minimalist fashion line JIl Sander has been sold again. Private-equity firm Change Capital Partners Monday sold the German label to Japan's Onward Holdings Company for a cool €167 million ($245 million). Not quite the 200 million euros Vogue UK had reported they wanted but not too shabby either considering Change Capital Partners paid €50 million two and a half years ago.Onward Holdings will also repay €45 million in debt. Onward owns Italian clothing manufacturer Gibo and has been looking to expand their fashion interests abroad.