Sonia Rykiel Sold to Fung Brands

By
Sonia Rykiel's Fall 2011 Collection Photo: Nathalie Lagneau/Catwalking/Getty/Getty

The Rykiel family agreed to sell 80 percent of Sonia Rykiel, the fashion brand known for its very French, striped knitwear, to Hong Kong–based investment group Fung Brands Ltd. Sonia Rykiel's daughter Nathalie, the brand's current president, will stay on as vice-chairman of the board. WWD reports that "Sonia Rykiel had mandated Edmond de Rothschild Corporate Finance last summer to study the possibility of selling a minority stake in the family-owned house in order to speed its expansion," after recent sales were flat. Eighty percent is obviously a more aggressive stake. Perhaps this means the beginning of an aggressive expansion of Sonia Rykiel?