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 — Chanel confirmed that two longtime associates of Karl Lagerfeld — studio chief Virginie Viard and image director Eric Pfrunder — would remain at the helm of the luxury label following the iconic designer's death.
Viard has been named artistic director for fashion collections, the closely held fashion house said in a statement Wednesday, while Pfrunder was appointed artistic director for fashion image. Chanel had said Viard would continue to manage the brand's collections when Lagerfeld died last week at the age of 85, without clarifying her title or the breadth of her role.
The move to name co-artistic directors from within the company implies that no one is being given the extensive authority Lagerfeld had enjoyed as its only creative chief since founder Coco Chanel. Speculation that the fashion house would turn to a star creative director from outside the company has persisted even as Viard’s profile became increasingly public. Lagerfeld’s principal deputy since more than 30 years, she has taken her bows alongside the designer at recent shows.
Alain Wertheimer, co-owner of Chanel, “confirms his confidence in the team that worked with Karl Lagerfeld for over 30 years,” the statement said.
By Robert Williams; editors: Eric Pfanner and John Lauerman.
This week, more luxury brands will report first-quarter results, offering clues as to how broad and how deep the downturn is going to get.
Fashion brands are edging in on the world’s largest gathering of design professionals and their wealthy clients, but design companies still dominate the sector, which is ripe for further consolidation, reports Imran Amed.
Blocking the deal would set a new precedent for fashion M&A in the US and leave Capri Holdings in a precarious position as it attempts to turn around its Michael Kors brand.
After preserving his fashion empire’s independence for decades, the 89 year-old designer is taking a more open stance to M&A.