LES BOUTIQUES CLOSES DEAL
By Adnews Staff
Quebec specialty fashion chain Les Boutiques San Francisco Inc. has closed the deal the company announced in January. At the beginning of the year Les Boutiques announced it was buying the stores operating under the banners of Bikini Village and Moments Intimes. Both chains specialize in swimwear, lingerie and sleepware apparel within the Quebec and Ontario markets. The cost of the transaction, including all inventory, is approximately $15 million, payable in cash over the next few weeks. The acquisition will result in the San Francisco group now operating 173 boutiques including, 42 San Francisco, 13 L'Officiel, 38 Bikini Village, 22 San Francisco Maillots, 18 Frisco, 20 West Coast, 15 Victoire Delage, 5 Moments Intimes and 3 Les Ailes de la Mode superstores. Les Boutiques officials were unavailable to confirm who is handling advertising for the company.