French designer Pierre Cardin has announced that he is to sell most of his business empire including his couture and licensing businesses and his restaurant Maxim's, but he will retain the perfume side of his empire. He is seeking a total $1 billion for the concerns.

The last independent couturier with total control of his brand, Cardin said he is determined that his empire remains under the control of people from the textile industry rather than financiers.

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