The acquisition follows the closures of two second-hand apparel sites in France while Vestiaire Collective gears up for a push abroad.
SAP announced its acquisition of Qualtrics International Inc. today in a deal for $8 billion in cash.
Cornell Capital plans to grow Knowlton Development Corp. internationally.
The transaction is subject to better offers at an auction.
The French retailers plans to separately sell Minelli, San Marina and Cosmoparis, leaving it with just La Halle and Caroll.
The retailer has entered negotiations with Groupe Royer, Stéphane Collaert and Thierry Le Guénic to off-load the company.
The new $2.3 billion company will be traded on the Nasdaq exchange.
Staying focused on its men’s business and expanding on opportunities here and abroad are the immediate priorities.
Shares of the company will no longer be traded and will be delisted.
Shareholders on Thursday voted in favor of the merger agreement.