PARIS: Privately-held French fashion property Leonard, recognised for its stylized orchid prints, is remaining offered to its long-time parter in Asia, Japan-dependent Sankyo Seiko, the enterprise explained Monday.
The shift marks the conclusion of spouse and children ownership for the luxury label, which was started in 1958, and symbolizes the struggle of smaller sized, independent European residences to maintain relevance in a quick-shifting and really aggressive retail landscape dominated by large, world-wide groups such as LVMH and Kering .
Options are to even more develop Leonard, which sells dresses costing upwards of 1,170 euros as nicely as components, in Asia, drawing on its presence in South Korea to press additional into Japan and Taiwan, in accordance to the statement.
Economical particulars of the offer ended up not given.
The label will keep its location on the Paris manner week calendar and its spring summer months 2023 collection will be the initially display beneath the instructions of the new operator, a retailer and attire producer and importer that has labored with the residence for 50 years.
“The heritage and know-how of our residence will stay on in the course of the world for quite a few years to occur,” mentioned Nathalie Tribouillard Chassaing, president and ceo of the label established by her father, Daniel Tribouillard.