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Look Owner Started Exclusive Acquisition Talks

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PARIS, France – It is reported that Quicksilver has started exclusive negotiations with American and Australian investors working with former CEO Bruno Cercley about the acquisition of Rossignol for

PARIS, France – It is reported that Quicksilver has started exclusive negotiations with American and Australian investors working with former CEO Bruno Cercley about the acquisition of Rossignol for approximately € 100 million. Look is one the brands covered by Rossignol. Quicksilver bought Rossignol only three years ago for € 240 million and the assumption of € 120 million in debt.

The position of Rossignol as part of Quicksilver has not been very easy. Quicksilver has taken some € 66 million from Rossignol with the disinvestment of the golf brand Cleveland formerly owned by Rossignol.

Product diversification failed

Additionally the product diversification of Rossignol failed and Quiksilver never managed to lift Rossignol’s apparel sales beyond annual revenues of about € 30 million, and the division is heavily loss-making. During its last season, Rossignol booked a turn-over of € 300 million and posted an operating loss of about € 40 million.

After finalising the deal, Bruno Cercley’s first priority is to redress profits by cutting costs at all levels, from manufacturing to logistics and marketing. He stressed that this will include the outsourcing of some labor-intensive production.

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