PRAGUE, Sept 21 (Reuters) – Czech investor Zdenek Bakala has sold his top brand retail outlets group Luxury Brand Management (LBM) to S.E.H. Private Equity controlled by the Hes brothers, the firms said in a statement on Tuesday.
LBM has operated boutiques on Prague’s top-market Parizska street and has gone through years of restructuring.
The business has been hurt by repeated coronavirus lockdowns and a drop in incoming tourism to Prague since the pandemic started last year.
Terms of the deal were not disclosed.
(Reporting by Jan Lopatka)
((jan.lopatka@thomsonreuters.com; +420 234 721 614; Reuters Messaging: jan.lopatka.thomsonreuters.com@reuters.net))
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