La Vie en Rose will buy Bikini Village for an undisclosed sum and continue to run the chain under the two seperate brand names.
The largest Canadian lingerie and swimwear retailer plans to continue operating the 48 stores included in the transaction under the Bikini Village banner as a separate network and maintain its multi-brand offer.
“We are happy to preserve the continuity of the Bikini Village banner, to keep the ownership in Canada and most of all save the 300 store jobs in these difficult times for the industry,” mentions François Roberge, President and CEO of Boutique La Vie en Rose Inc. “This acquisition will not only allow us to consolidate our position as the #1 swimwear retailer in Canada, but we also plan to take advantage of it to strengthen our international presence by exporting the banner outside the country.”
The acquisition of Bikini Village by Boutique La Vie en Rose Inc. is expected to close at the end of March. It is subject to the issuance of an approval and vesting order by the Superior Court before becoming official.