French brand Naf Naf bought by textile supplier
23 June, 2020
French brand Naf Naf has been bought by among its suppliers, Turkish textile manufacturer SY International, after the struggling brand was positioned into receivership in May.
Naf Naf will be taken over by the company’s French subsidiary, SY Corporate France.
It is understood that the acquisition will save 75 percent of the jobs in the company’s French operations.
Regarding to AFP, the Bobigny Business Court ruled towards the takeover on 19 June. SY, which specialises in textiles and offers factories in Turkey and Morocco, was competing with French group Beaumanoir for the deal.
SY is a provider of Naf Naf for over 30 years.
Source: fashionunited.uk