Born of a Russian mother and a Romanian father in the suburbs of Paris Sonia Rykiel married into the fashion sector and when unable to find certain clothing items such as woollens, knits, jumpers, sweaters and cardigans decided to venture out on her own.
In time she was known for her cleverly proportioned and coloured stripe sweaters which became her trademark and ultimately she was known as The Queen of the Knits.
Having suffered with her health of late and with 'the trade' being so competitive globally and her sales having plateaued over the last couple of years I sense she and her very supportive daughter who was running the business needed an extra 'layer of management and funds' that could exploit her undoubted high profile brand further.
THE STRENGTH OF A BRAND IS NOT MERELY 'THE BRAND' BUT THE RETENTION
OF THE CULTURE AND A TRULY UNDERSTANDING 'HAND ON THE TILLER'
The Sonia Rykiel brand was needing a higher concentration in the ever expanding Asian markets and in February 2012 the business sold 80% of its equity to Li & Fung of Hong Kong's "Fung Brands" that was formed in 2011 under the guidance and vision of Jean-Marc Loubier who previously had guided Escada and within LVMH Celine and others.
He's been very busy since the Funds' creation not only investing in Sonia Rykiel but also Robert Clergerie(shoes), Delvaux (leathergoods) and Hardy Amies of couture fame and its many derivitives.
Would you believe it this picture is of Jools Oliver wife of the ever famous chef and entrepreneur JAMIE OLIVER in a Sonia Rykiel signature 'striped jumper'
Are Jean-Marc Loubier and Fung Brands attempting to build a competitive fashion conglomerate to rival Louis Vuitton Moet Hennessy(LVMH), Richemont, Pinault Printemps Redoute(PPR) ??
We've witnessed similar conglomerates in the 70's and 80's and unfortunately 'the sum of the parts' didn't work out to the desired formula of never ending growth.
The skill of the surviving groups was dependent on the incumbent management being kept on in the transition where the 'incomers' listened and abided with the culture and 'feel' that had been developed historically.
Does this 'new money' from the Far East have the bottle to view a long term future rather than the 'short termism' that most of the financial and investment sector seem to demand?
You know WPP the advertising and marketing behemoth controlled and put together by the irrepressible Martin Sorrell used to and possibly still does employ the format where the agreed acquisition price is part cash and a fair lump is subject to 'an earn out model' thereby retaining the incumbent management and a 'driver' to ensure that all efforts are made to maximise 'the earn out'.
THE STRENGTH OF A BRAND IS NOT MERELY 'THE BRAND' BUT THE RETENTION OF THE CULTURE AND A TRULY UNDERSTANDING 'HAND ON THE TILLER'
All the pictures on this blog have been selected from our ARCHIVES
All the pictures on this blog have been selected from our ARCHIVES
All the pictures on this blog have been selected from our ARCHIVES
All the pictures on this blog have been selected from our ARCHIVES
SONIA RYKIEL
All images used on the Leslie Creasey Blog are from my hand
clipped archive documenting 35 years of Style and Design media.For all enquiries please contact leslie@charismatic-brands.com.
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