Wei'S Lace Supplier Desseilles Was Bought By Hangzhou Yongsheng Textile Company.

According to reports, Yongsheng Textile Company from China recently acquired the French lace producer Desseilles Laces SAS at a price of 300 thousand euros (2 million 201 thousand and 700 yuan).

This is the last week after the acquisition of French SMCP group by Ruyi group in Shandong, China, another heavy textile acquisition.

It is worth mentioning that the purchase price is only equivalent to 5% of Desseilles's turnover last year.

70 years ago, Desseilles was the oldest French lace.

More than 70% of the products are exported to Asian markets and are well-known brands including Vitoria's secret.

According to reports, Desseilles's operating income in 2015 was 5 million 400 thousand euros (about 39 million 631 thousand and 100 yuan), which shrank by 35% compared with the previous year.

The report also said the company was bankrupt and was liquidating property before it was acquired.

Yongsheng Textile Company, headquartered in Hangzhou, Zhejiang, was founded in 1993.

Reported that the company's products exported to more than 60 countries and regions around the world, in 2015 revenue growth of more than 20%.

This acquisition will provide the first overseas production base for Yongsheng company, and will provide more diversified market opportunities for Desseilles.

Michel Berrier, general manager of Desseilles, said that the acquisition can not only provide funds for enterprises, but also sell products and designs that are proud of them to the Chinese market.

In view of Chinese

The preference for overseas M & A assets will become the trend of China's textile and garment industry.

A few days ago in April 1st, Shandong Ruyi group, a Chinese textile enterprise, announced the acquisition of SMCP group, a French fashion group. SMCP group's business was mainly concentrated on

Its brands include Sandro, Maje and Claudi Pierlot.

According to the announcement, SMCP's design and creative team continues to operate at headquarters in Paris to maintain SMCP's fashion gene and brand image.

Yongsheng Textile also intends to make good use of Desseilles's existing design resources.

Jason Li, assistant director of Yongsheng company, said that the company will reduce costs by looking for cheaper materials, and will have a bright future for China's high-end Lace Market.

The long-term plan is to set up a research and design center in France, and set up a professional school for lace production training.

According to the report, according to the merger agreement, Desseilles will remove the number of employees from 74 to 60.

Yongsheng company promises that Desseilles will continue to produce at least five years in Callet, Calais, which is located in its northern part of France.