Arab Today, arab today pierre cardin ready to sell empire for1 billion euros
Last Updated : GMT 18:11:48
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French designer has 500 global licences

Pierre Cardin ready to sell empire for1 billion euros

Arab Today, arab today

Arab Today, arab today Pierre Cardin ready to sell empire for1 billion euros

French fashion legend Pierre Cardin
NEW YORK- AFP

French fashion legend Pierre Cardin French fashion legend Pierre Cardin is ready to sell his group and will seek one billion euros, he said in an interview with the Wall Street Journal published Tuesday. \"I want to sell it now,\" Cardin, 88, told the US business daily. \"I know I won\'t be here in a few years and the business needs to continue.\"
The report noted that banks estimate the value of the group, founded in 1949, at 200 million euros, though financial information on the sprawling fashion empire is sketchy.
An astute businessman as well as a groundbreaking designer, Cardin has up to 600 licences worldwide.
He invested in China as far back as 1978, one of the first foreigners to try the market.
Cardin, who has no heirs, said he wants to stay on as creative director, explaining that it would be in the buyer\'s interest \"for the brand\'s image.\"

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