PARIS: Privately-held French trend dwelling Leonard, recognized for its stylized orchid prints, is staying bought to its prolonged-time parter in Asia, Japan-primarily based Sankyo Seiko, the company claimed Monday.
The transfer marks the conclusion of loved ones possession for the luxury label, which was started in 1958, and symbolizes the struggle of smaller, impartial European homes to sustain relevance in a fast-shifting and remarkably aggressive retail landscape dominated by big, worldwide teams this sort of as LVMH and Kering .
Plans are to even further develop Leonard, which sells attire costing upwards of 1,170 euros as perfectly as accessories, in Asia, drawing on its presence in South Korea to thrust more into Japan and Taiwan, according to the assertion.
Economic facts of the deal were not provided.
The label will maintain its location on the Paris trend 7 days calendar and its spring summer time 2023 assortment will be the 1st clearly show beneath the directions of the new operator, a retailer and apparel producer and importer that has worked with the dwelling for 50 a long time.
“The heritage and know-how of our property will stay on during the earth for lots of many years to occur,” reported Nathalie Tribouillard Chassaing, president and ceo of the label launched by her father, Daniel Tribouillard.