Tuesday, June 30, 2009

Pierre cardin sells part of business in China

On the 29th, Pierre Cardin announced that it will sell its garments and clothing business in China to two Chinese companies, total 200 million euros.

87-year-old Pierre Cardan said that in the past two months, the company has negotiated with Chinese companies on the sale of 32 kinds of authorized products. He pointed out that the sale contract will soon be signed.

The spokesman of Pierre Cardin said the two Chinese companies are Guangzhou Jian Sheng Trading Co., Ltd. (Jiansheng Trading Company) and Cardan Corporation (Cardanro). He said that now Pierre Cardin has more than 800 kinds of product licenses in 140 countries.

Pierre Cardin is the first international brand which enters the Chinese market. The relationship started in 1978. At that time Pierre Cardin was the first European designer to come to China.

Originally Posted: China Business Daily
Author: Angulo Fu