According to recent reports, luxury brand Acne Studios is looking for a buyer for a majority stake in the business.
Acne Studios, based in Sweden was founded in 1997 by Jonny Johansson and Mikael Schiller and has reportedly been in conversation with US investment bank Goldman Sachs in preparation to sell the majority stake.
According to market sources, the company is currently generating over 200 million euros per annum and a sale of Acne Studios could see a revenue of 400-500 million euros.
The business which remains privately owned has 52 stores in 13 different countries, employing over 500 people internationally. And with a cult following thanks to its minimalist, alternative styling, and high-quality designs, the sale of the company will be widely watched.
More to come.