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Sonia Rykiel seeks funding from Fung Brands

Sonia Rykiel, the French fashion label, could be set to sign a deal with Hong Kong based investment company Fung Brands, which would see the owners relinquish control of the brand to help finance international expansion.

According to reports, the label drafted in bankers Edmond de Rothschild last year to help find a partner to develop the fashion house.

If the deal goes through, Fung Brands would own an 80% stake in the business, with the Rykiel family keeping the remaining 20%.

Chairman and artistic director Nathalie Rykiel told the Financial Times: “I have taken this wonderful brand as far as possible but this economic model was perhaps no longer viable, and I needed the financial and strategic support of a large group to develop Sonia Rykiel internationally.”

Sonia Rykiel is distributed across 30 countries and in 2010 had sales of 90m (£75m).

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