STL to Acquire Christian Lacroix, Enhancing Luxury Fashion Reach
MADRID (Reuters) - Spain's Sociedad Textil Lonia (STL) is to buy French fashion house Christian Lacroix for an undisclosed sum, the company said on Tuesday.
Christian Lacroix, founded in 1987 by the namesake designer known for his baroque and embroidered dresses, was once part of French luxury giant LVMH and later belonged to the Falic family.
STL, which owns the brands CH Carolina Herrera and Purificacion Garcia as well as 600 stores worldwide, described the agreement as a "private transaction".
"By acquiring Maison Christian Lacroix, with its treasure of archives and the rich history of French haute couture, STL expands its brand portfolio, strengthening its international presence," the company said in a statement.
Spanish luxury beauty and perfumes group Puig , which made its debut on the Spanish stock exchange in May, owns a 25% stake in STL.
(Reporting by David Latona and Corina Pons; Editing by Jan Harvey)
