PARIS — Per week after its former French Legacy Group stablemate Clergerie was snapped up by U.S.-based Titan Industries Inc., high-end footwear-maker Heschung also has recent backing, thus avoiding liquidation.
PPL Finance, managed by investor Philippe Catteau, has taken an undisclosed stake in the corporate. It has been renamed Heschung & Cie., and Catteau will now co-manage the brand alongside Pierre Heschung, the grandson of the brand’s founder.
Their previous owner, French Legacy Group, entered receivership in April, citing long-tail effects of the pandemic and the war in Ukraine. “It’s a positive consequence for the Alsatian company, struggling as a result of the setbacks of its shareholder French Legacy Group, which recently entered receivership,” the corporate stated.
Heschung said it's “committed to investing...
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