July 6, 2017 / 3:13 PM / 2 months ago

French fashion house Lanvin to dismiss designer Bouchra Jarrar - source

PARIS, July 6 (Reuters) - France's oldest fashion brand Lanvin has decided to dismiss designer Bouchra Jarrar as it faces a deepening crisis amid slumping sales, a source close to the matter told Reuters on Thursday.

Founded in 1889, Lanvin is one of France's last major independent fashion labels in an industry dominated by multi-brand groups such as LVMH and Kering.

It has been in turmoil since the shock sacking in 2015 of previous designer Alber Elbaz after a boardroom dispute.

Bouchra Jarrar, appointed in March 2016, "was seriously weakened by the lack of success of her collections," a source said, following reports of her expected departure from the fashion house.

The source added that Jarrar would not be in charge of the Spring-Summer collection due for end-September.

Neither Lanvin nor Jarrar could be reached for comment.

Lanvin fell to net loss of 18.3 million euros ($21 million)last year, its first in nearly a decade, from a profit of 6.3 million in 2015, sources told Reuters last month. The loss is seen widening to 27 million euros in 2017, the sources said.

Another source with access to the company's results said sales fell 23 percent last year to 162 million euros and slumped a further 32 percent in the first two months of 2017.

$1 = 0.8770 euros Reporting by Pscale Denis; Writing by Ingrid Melander; Editing by Andrew Callus and Mark Potter

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below