The European Commission on Monday authorised the joint acquisition of clothing retailer Pepe Jeans by L Capital Asia, in which LVMH is a key shareholder, and by investment firm MI Fashion Ltd, holder of the Façonnable brand.

Brussels concluded that the proposed acquisition does not pose any problems with competition, since the overlaps in the Pepe Jeans,  M1 and LVMH activities are "limited".

The case, which was apprised in Brussels on 27 March, was examined by the European Board following the simplified procedure that applies to the least problematic cases.