Card Slave Road Purchases Luxury Department Store Excelsior

According to Italy, China

Limited by Share Ltd will pass the parent company Modern Avenue Group (Modern Avenue).

The group purchased 2130 Milano and related assets of Milan luxury department store at the price of 2130 million euros (160 million yuan), and the seller is Gruppo Coin of Italy fashion retail group.

A spokesman for Gruppo Coin told the US website on Tuesday that the news has not been officially confirmed.

In June last year, the card slave road acquired the equity of Dirk Bikkembergs 51%, a Belgian pioneer brand, which is detailed in the previous report: "China's card slave road acquisition of Belgium pioneer Dirk Bikkembergs 51% equity".

It is reported that the card slave road plans to set up five Excelsior Milano stores in China by 2020, of which the first branch will be opened in Macao.

And the store's brand promotion work will be responsible for Antonia Giacinti and Maurizio Purificato of Antonia, a luxury boutique store in Milan. They are also responsible for the fashion department of Milan Excelsior department store.

Excelsior stores in Rome and Venice are not linked to the acquisition, but are still controlled by Gruppo Coin.

The card road has been listed on the Shenzhen stock exchange. It has 400 fashion stores in Greater China and operates 200 franchise stores in Italy and France.