Swiss luxury good group Richemont has entered into an agreement with Tercade SA, a holding company, for the sale of its interest in its subsidiary, Old England SA.

Based in Paris, Old England operates a flagship department store on Boulevard des Capucines as well as stores in Lyon and Toulouse. It also has a number of points of sale in Japan. The Old England stores feature the best of ‘English’ design in terms of clothing and accessories.

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