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Jil Sander sold to Japanese clothing group

Jil Sander's private equity owner Change Capital is to sell the brand to Japanese clothing group Onward Holdings for €167 million (£135.4m). Onward's European subsidiary Gibo, will take over the business.

Onward, through Gibo, has recently made a number of luxury acquisitions in Europe including Iris, which manufactures footwear for Marc Jacobs, Chloe and John Galliano, Viktor & Rolf and Joseph.

Change Capital bought Jil Sander in April 2006.

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