Simplify the following text for a Grade 8 native English-speaking person.
Original: Jil Sander was sold to the private equity firm Change Capital Partners , which was headed by Luc Vandevelde , the chairman of Carrefour , while the Helmut Lang label is now owned by Japanese fashion company Link Theory .
Simplified: Jil Sander was sold to ` Change Capital Partners ' , which is run by Luc Vandevelde ( the chairman of Carrefour ) . Helmut Lang is now owned by Japanese fashion company ` Link Theory ' .