Bangalore-based textile design and manufacturing firm Himatsingka Seide is acquiring 70% equity stake in Italian textile company Giuseppe Bellora SpA for an undisclosed amount. The transaction is expected to be completed in February 2007. The acquisition is part of Himatsingka's strategy to acquire high-end distribution networks in the global home textile segment. Established in 1883, Bellora is a pan-European luxury brand in the bed linen segment and has generated revenues of about €29 mn in 2006. Apart from exclusive stores in Italy and other parts of Europe such as Spain, Portugal, Switzerland, Germany and France, the brand has a presence in departmental stores, like Harrods in London, La Rinascente in Milan, and Bonne Marche in Paris, among several others.
Read the article in The Economic Times.
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