Delvaux potentially up for sale

Belgian luxury handbag company Delvaux is looking for a buyer. The Hong Kong-based billionaire brothers Victor and William Fung are looking to offload the brand from their portfolio. The sale could be valued between 500 million to 600 million dollars.

In 2011, the Fung brothers took a majority stake in the brand via is subsidiary First Heritage Brands with Singaporean state investment company Temasek. Over the past decade, Delvaux has expanded into China, South Korea, Japan, New York, London, and Milan. The brand has also expanded its e-commerce business in the U.S. and Europe and has partnered with JD.com to sell in China.

Despite the brand’s expansion, they have gone through some company restructuring. They recently parted ways with their artistic director Christina Zeller and also slashed 26 jobs.

FashionUnited has reached out to Fung Group for comment on the potential sale of Delvaux.