Vancl, Pierre Cardin Talks Break Down
Sina Tech, 7/01/09
CEO Chen Nian of Chinese B2C clothing site Vancl confirmed that Vancl had previously planned to move into the high-end clothing market through acquiring a portion of Pierre Cardin's China operations. Talks broke down on discussions of price, however, and the two companies were unable to come to an agreement. Pierre Cardin had wanted RMB 4 bln, while the figure Vancl was offering was far lower.
Keywords: Pierre Cardin investment B2C Chen Nian Internet Vancl apparel e-commerce
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