PPR has “signed an accord with Brioni shareholders to acquire 100 percent of the capital,” it said in a statement, without giving a figure for the deal.
PPR head Francois-Henri Pinault said this acquisition “completes our portfolio of luxury brands … in the mens’ ready-to-wear segment,” which is growing fast.
“Brioni offers strong growth potential and PPR will allow it to speed up its development and improve its profitability, mainly by widening its product range and expanding its presence in faster growing countries,” the statement added.
Brioni was founded in 1945 and has established itself as a top men’s brand, with Daniel Craig and Pierce Brosnan counted among its customers.
In 2010, Brioni had sales of 170 million euros, with a workforce of 1,800.