LOS ANGELES — BCBG Max Azria is set to announce today that it is in negotiations to purchase Don Algodón, a women's and men's ready-to-wear and accessories retailer based in Spain.
The acquisition of the company, which operates 55 stores in Spain, Portugal and Morocco, would constitute another major move for BCBG Max Azria, which received a $53 million bond offering last December and this month announced that it bought French sportswear firm Alain Manoukian for $78.5 million. Manoukian operates 300 stores in Europe, including France, Belgium and Spain.
"Europe is a very important position for us," said Max Azria, designer and chief executive officer of BCBG Max Azria. "Our goal is to expand ... that will be our strategy."
Azria said he expects to be in a total of 90 doors in Spain and Portugal by the end of 2006. The company also hopes to grow by 50 to 100 doors in Italy, Germany and England during the same period.
Asked about terms of the deal, Azria replied, "It's too early to talk about it. A figure will be available in one month," when the acquisition is completed.
The privately held, Vernon, Calif.-based company operates 174 stores worldwide, and has recently opened in Moscow and Amman, Jordan, as well as a 5,600-square-foot jewel on Rodeo Drive. It plans to open an additional 23 stores in the U.S. before the end of the year, including a 6,800-square-foot Fifth Avenue location in New York.
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