Folli Follie S.A. announces the increase of its participatory stake to 100% (formerly at 40%) in the share capital of its affiliate Folli Follie Japan Ltd., by the acquisition of the remaining 60% of the said affiliate's outstanding stock from Mr. Katsumi Fujino. Mr. Fujino, who has been the exclusive commercial partner of the company in Japan for the last fifteen years, will remain with the affiliate and will serve in the position of General Manager. The said acquisition - which will be completed within the current quarter - amounts to a total of 2 billion Japanese Yen (approximately 12.7 million Euro).
Finally, this acquisition is in line with the Group's strategic plan to further develop sales networks and markets in which it maintains a presence.