Fashionette AG (XTRA:FSNT) said on August 30, 2023 that it plans to sell ?in a timely manner? its Beauty and Smartwatches business units, which were previously discontinued as part of a cost-cutting programme. The potential deal is expected to generate an inflow of cash and cash equivalents in the low to mid-single-digit million Euro range, according to current estimates of the management board.

After launching market sounding, Fashionette anticipates that the sale will take place in the fourth quarter of 2023 and the potential proceeds from the deal will flow into the company by the end of fiscal 2023. The sale will be carried out by means of an asset deal in which the existing rights, inventories, and other assets of the two business units will be transferred to an external buyer.