Printemps Expects The Group To Sell 2 Billion Euros In 2017.

< p > Qatar investor's Luxemburg investment fund Divine Investments SA (Disa) announced on Wednesday that it had completed the acquisition of French luxury retailer Printemps Paris spring department store. The transaction was approved by the French anti unfair competition agency on the 22 th of this month. < /p >
< p > quoted sources as saying that the 70% and 30% shares of Printemps spring department store in Paris respectively, the Deutsche Bank RREEF Rui rich real estate investment management department and the Italy merchant Maurizio Borletti Borletti Group, sell their shares to Disa for a total of 1 billion 750 million euros. < /p >
< p > Disa says it will continue to develop Printemps Paris spring department store in Paris and other parts of France, and fully support its international expansion. < /p >
< p > Printemps Paris spring department store was purchased by Kai Yun group, a Kering SA (KER.PA) company formerly known as PPR, which sold the Printemps Paris spring department store to Euro 1 billion 100 million in 2006, and sold it to Deutsche Bank RREEF Rui real estate investment management department and Borletti Group in 1991. According to insider, according to the terms of the transaction, Deutsche Bank RREEF Rui real estate investment management division planned to sell its shares at the latest by 2014, and Borletti Group has the right of preemption. < /p >
< p > late February, RREEF Rui real estate investment management division and Borletti Group are close to entering the exclusive takeover negotiations with Qatar investors. Then Galeries Lafayette joined the battle of Le Printemps Paris spring department store. Galeries Lafayette, chief executive of Philippe, told Philippe Figaro that the Qatari investors could jointly acquire Le Printemps Paris spring department store with themselves, and gave up support for Borletti Group chief executive and Italy businessman Maurizio Maurizio. < /p >
< p > Printemps France Paris spring department store sales increased by 5.7% to 1 billion 500 million euros in 2012-13 fiscal year, with a contract of 1 billion 950 million dollars. The group said the growth rate was significantly higher than the market average. Accessories category sales increased by 11.9%, beauty products increased by 3.2%, and garments grew by only 1%. < /p >
< p > Paris Boulevard Haussmann Osman Avenue Printemps Paris Spring Department Store flagship store sales grew 14% year-on-year, foreign tourists consumption led to the sales growth of the group, while sales of some stores in some parts of the group were reduced by 3.2% due to renovation and renovation. < /p >
< p > Printemps Paris spring department store said the group's new five year plan will invest 270 million euros to accelerate expansion, which has been supported by Qatar investors. The expansion plan includes 3 Printemps Paris spring department stores and 2 Citadium new stores. "Printemps expects the group to increase 500 jobs by 2017, with an annual sales volume of 2 billion euros." < /p >