Pierre Cardin to sell licences to China

The French fashion group Pierre Cardin on Monday said it would sell its textile and accessories licences in China to two Chinese enterprises for 200 million euros ($A348.49 million). Founder Pierre Cardin, who will be 87 July 2, told AFP the group had been negotiating the sale to the Chinese companies of 32 licences for the past two months, adding that a sales contract would be signed "imminently".

Source: Watoday