The acquisition made David Jones “back in Australian ownership”.

Recently, due to the high probability of default, Fitch placed Pronovias on its list of market risks and concerns, making it the one with highest risk among all Spanish companies on the list. However, Pronovias is still the world’s leading bridalwear brand.

Bucherer CEO Guido Zumbühl stated: “This acquisition fits into our strategy to strengthen our presence in Denmark further, and to follow up on our market entry in 2016 with our first boutique at the Illum department store.”

De Rigo provides licensed production and distribution services for luxury and fashion brands like Givenchy and Chopard.

Under the terms of the transaction, Seven & i will transfer its outstanding Sogo & Seibu shares to a special purpose company owned by Fortress. The transaction is expected to close in the first quarter of 2023.