Women’s Wear Daily
04.20.2014
fashion-scoops
fashion-scoops

Gianfranco Ferré's White Knight?... Vera Wang, Zale Close to Deal...

There is another white knight on the horizon that may guarantee a future for the Gianfranco Ferré label.

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FOCUSING ON FERRÉ: There is another white knight on the horizon that may guarantee a future for the Gianfranco Ferré label. A Milan-based source said the Dubai-based Paris Group has submitted a binding offer to Ferré’s three state-appointed administrators. Paris Group was founded more than 20 years ago by Abdulkader Sankari and is a fashion distributor and franchisee in the Middle East, where it operates more than 250 stores in the United Arab Emirates, Kuwait and Saudi Arabia for brands ranging from Versace and Cerruti, to Canali and Ferré itself. “This is a real offer, they are very keen,” said the source.

In December, Ferré’s sale procedure was unexpectedly stalled when Samsung pulled out of a deal with Prodos Capital Management LLC and Salmar Shipping Ltd. Prodos, according to a source, is considering joining forces with Paris Group.

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