M&As this week: Lee Ji Eun, Myntra Designs, G-III Apparel Group

28 July 2016 (Last Updated July 28th, 2016 18:30)

South Korean investment and consulting firm, Globon (Veritas Investment) has agreed to sell its 171,130 shares in women apparel designer, manufacturer and retailer Lee Dong Soo F&G to Lee Ji Eun.

South Korean investment and consulting firm, Globon (Veritas Investment) has agreed to sell its 171,130 shares in women apparel designer, manufacturer and retailer Lee Dong Soo F&G to Lee Ji Eun.

The deal price of the minority acquisition is fixed at KRW5.04bn ($4.43m).

India-based online fashion and casual lifestyle products retailer Myntra Designs is all set to acquire Novarris Fashion Trading (trading as Jabong.com) from Global Fashion Group.

"Jabong is expected to help Flipkart strengthen its market position in the Indian e-commerce space."

Also based in India, Jabong sells fashion and lifestyle products for men, women and kids online. Luxembourg-based Global Fashion Group operates online fashion stores, while Myntra is a subsidiary of Flipkart Online Services Private Limited (operating as Flipkart.com), an Indian online portal.

A loss-making venture of German company Rocket Internet, Jabong is expected to help Flipkart strengthen its market position in the Indian e-commerce space.

US-based apparel and accessories designer, manufacturer and retailer, G-III Apparel Group has reached an agreement with LVMH Moet Hennessy Louis Vuitton SA (LVMH) to acquire the latter’s subsidiary, Donna Karan International.

Based in France, LVMH is a luxury goods manufacturer and retailer. The transaction will involve a consideration of $650m and is expected to be completed by late-2016 or latest by early-2017.

Indian community classifieds website operator, Quikr India has acquired an online hiring platform named Abhiman Technologies (operating as Hiree.com).

Hiree platform will be merged with QuikrJobs as a result of the transaction that is expected to strengthen the latter’s recruitment services offerings.

Hiree was founded by Manjunath Talwar and Abhijit Khasnis, and earlier invested in by IDG Ventures India, and Raghu Krishnananda, Shamsunder Talreja and Prashant Kirtane.