The Swiss-based MF Brands Group, owner of renowned labels such as Lacoste and Aigle, announced on Monday that it has entered into exclusive negotiations with a French industrial group to sell the The Kooples brand. The move is part of a strategy to refocus on activities aligned with its core identity.

The proposed transaction involves the transfer of all operations related to The Kooples to Verdoso Group, a company specialising in investments in distressed businesses, according to a statement from MF Brands Group shared with AFP.

Founded in Paris in 2008 by the Elicha brothers, the French brand offers a collection of accessible luxury fashion and accessories for both men and women.

“This decision reflects MF Brands’ strategic ambition to reposition The Kooples for a promising future while concentrating on developing premium, global brands that align with the group’s DNA,” the statement explained.

The project remains subject to consultation with employee representatives, the group noted. MF Brands Group currently operates in “nearly 100 countries with a network of over 2,400 stores.”(AFP)

This article originally appeared on FashionUnited.FR. It was translated to English using AI.