VENDOME BUYS STAKE IN PARIS RETAILER
PARIS — Vendome Luxury Group has taken a controlling stake in the century-old Paris-based retailer Old England, Vendome marketing coordinator Marc Vincent said Monday. Terms weren’t disclosed.
Old England chief executive Jean-Marie Henriquet, who controlled the majority its capital, will continue to run the firm, Vincent said. In a telephone interview from London, Vincent said, “Retail is our core business, and Old England fits perfectly into our group.”
Vendome, controlled by Compagnie Financiere Richemont AG, includes Cartier, Chloe, Piaget, Baume & Mercier, Montblanc, Alfred Dunhill, Sulka and Hackett.
Selling traditional apparel and accessories for men and women, Old England did about $15 million in sales in France last year, most coming from its three-level, 28,000-square-foot flagship here. It also has stores in Lyon and Toulouse. Five years ago it expanded into Japan and now has about 25 shop-in-shops as part of a licensing deal with Mitsubishi.