The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — French fashion company Vivarte, which has lately been disposing of assets to cut debt, said on Tuesday it had agreed to sell its Chevignon brand to the Royer company and businessmen Stephane Collaert and Thierry Le Guenic.
Chevignon had 2018 sales of around €24 million ($27 million), and employs around 180 staff, Vivarte said in a statement.
The group, which faces competition from larger clothing retail chains such as H&M, Kiabi and Primark, has been restructuring its business to improve its financial situation.
Vivarte sold its Kookai fashion brand, Pataugas shoes and Spanish shoes brand Merkal last year, and its Andre shoe brand earlier this year.
Vivendi expects the sale of the Chevignon brand to be finalised in the first quarter of 2019, pending regulatory approval.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.