French fashion giant interested in Orka
ISTANBUL - Hürriyet Daily News
People crowd in front of a Louis Vuitton store in Champ Elysees in Paris. The owner of the brand is in talks to buy a stake in Turkish retailer Orka Group. Photo by D. CharriauSeveral international companies, including French luxury designer label Louis Vuitton, are interested in buying a stake in Turkey’s Orka Group, the owner of Damat and Tween retail brands, according to Orka’s chief executive.
“We are trying to be selective in choosing an international partner to grow our business globally,” Osman Arar told the Hürriyet Daily News in a telephone interview yesterday.
“We are holding talks with several companies and LVMH Moet Hennessy Louis Vuitton is one of them,” he said.
Luis Vuitton is interested in acquiring 20 to 30 percent of Orka Group’s shares, as well as becoming a strategic partner, daily Milliyet reported Dec. 20, adding that negotiations were in the final stages.
Orka operates in 40 countries including the United Kingdom, Russia, Spain and Romania.
Arar said they had recently launched a store in Tanzania.
LVMH subsidiaries include Fendi, Donna Karan, Givenchy, Kenzo, Guerlain and Bulgari