Mexx acquired for 21 million euros

Turkish company Eroglu Holding reportedly paid a total of 21 million euros for the restarted Dutch fashion label Mexx, a fraction of the price paid for the label when its founder Rattan Chadha first sold it off to American firm Liz Claiborne for 430 million dollars. The Turkish textile and retail company was revealed to be the new owners of Mexx in late January this year and as part of the label relaunch a minimum of 160 employees were immediately offered a new contract with the new parent company.