Japanese e-commerce firm Estore Corporation has taken steps to acquire Shiffon, a Tokyo-based licensee and developer of brands including Kappa, Phenix and Hummel.

The purchase price agreed by both parties was around $12.2 million or ¥1.67 billion. Upon completion of the deal, Estore will own 50.2% of Shiffon shares. According to local media, the new owner will look to align Shiffon’s sports and fashion businesses more closely with an e-commerce operating model.

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