Only a year after its acquisition by M1, Pepe Jeans is now taking control of french apparel chain Façonnable, according to Modaes.
Both Pepe Jeans and Façonnable are owned by the conglomerate M1 which bought Façonnable from Nordstrom in 2007 for 210 million euros ($224.29 million). According to Modaes this was the largest investment M1 had ever made until it bought Pepe Jeans in 2015 for 900 million euros ($747.63 million).
M1 will now give Pepe Jeans control over Façonnable help with the French labels decline in sales. Modaes reports that in 2015 Façonnable fired 96 of its 448 employees and saw the resignation of its CEO Ludovic Le Gurrierec.
Façonnable’s design offices will remain in Paris, but the headquarters will be moved to Spain with Pepe Jeans.