We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 20, 20205:53am

Sonia Rykiel plans to sell all its assets before the end of the year

The French company will auction its assets in two phases: at the end of October and at the end of November.

Oct 16, 2019 — 6:23pm
Mds
Save

Sonia Rykiel plans to sell all its assets before the end of the year

 

 

Sonia Rykiel sells her assets before the end of 2019. This is explained by Richard Morgan, the financial advisor who manages the company’s creditors’ contest. The first bets on the assets of the French firm, which include the brand of all items, in addition to repertoires and prototypes, end at the end of October this year.

 

The remaining assets will be auctioned in November in a final transaction before the end of the year. The bidders also have the possibility to bid for the rental contracts of the brand, as well as their stores in France, located in Deauville, Bordeaux, Cannes and on Rue de Faubourg Saint-Honoré in Paris.

 

The brand was acquired by Hong Kong businessmen Victor and William Fung in 2012 and became part of the First Heritage Brands luxury group, controlled by former Louis Vuitton Moët Hennessy (LVMH), Jean-Marc Loubier.

 

 

 

 

Investors wanted to revive the company by emphasizing their identity, based on the founder, Sonia Rykiel, known for her striped knitwear. Despite the historical legacy of the brand, revenues fell and investors showed no interest in their purchase.

 

Given the lack of investors interested in buying the company, in September this year, the company went to liquidation through a direct purchase of its assets that does not include any debt or costs associated with the brand’s business operations.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...