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 rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.