Article: GUCCI GROUP ROLLS ON: ACQUIRES BALENCIAGA, SECURES GHESQUIERE.(designer Nicolas Ghesquiere )

PARIS -- Eager to transform the star power of designer Nicolas Ghesquiere into profits, Gucci Group said it will move swiftly to build the Balenciaga business with improved production, distribution and new flagships.

On Friday, the luxury group confirmed that it had acquired the Paris-based house from Groupe Jacques Bogart, a fragrance and fashion firm.

WWD first reported that Gucci Group had its eye on Ghesquiere and Balenciaga on Jan. 19.

The lengthy negotiations, completed early Friday morning in Paris, reflected the complexity of today's acquisitions -- and it prompted speculation in the press that Gucci might want only to launch a ...

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