Shares of the company will no longer be traded and will be delisted.
Shareholders on Thursday voted in favor of the merger agreement.
Luxury analyst Erwan Rambourg believes M&A is the “inevitable” course for family-controlled businesses.
The entrepreneur addressed the rumors on Tuesday in Milan, saying “we are buyers, not sellers.”
The 4.2-million-euro deal, approved by a Paris commercial court decision on Friday, covers job contracts for 72 out of 73 employees.
Adrian Cheng expands his foothold on urban youth with an investment into the influential Chinese platform.
ABG has also partnered with Ariel Chaus for the acquisition of the Bernard Chaus Inc. brands from Camuto Group.
A deal with the Shanghai-based eco-clothing company is expected this coming week.
Along with serving tailor shops in 20 countries, Drapers operates a suiting fabric online store.
The deal is expected to close later this month.