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Cacharel sells menswear division to secure jobs

Luxury brand and retailer Cacharel has sold off its menswear division and its outlet stores for 9.2m (£7.7m) to secure the future of the company.

The French fashion house sold the rights menswear brand to its licensee, the Turkish Aydinli Group for an undisclosed sum, according to reports.

Its two outlet stores in France and one in Italy were sold to three separate buyers.

It is understood that Cacharel made the sales to fund a 5.6m (£4.7m) plan to save jobs at the company between now and the end of October. The rest of the funds will be put toward increasing equity capital and financing company development.

The brand now owns only one directly operated store, in France.

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