The retailer was in exclusive talks to buy Stefanel, which was under special administration, for a total of 3.2 million euros.
OVS will buy the brand and 23 shops out of a total of 27, but it will not acquire Stefanel's headquarters, Margherita Grigolato, from FILCAMS-CGIL union told Reuters.
(Reporting by Riccardo Bastianello, writing by Giulia Segreti, editing by Francesca Landini)