Sankyo Seiko to purchase French luxury fashion house Leonard
25/07/2022 11:02
PARIS, July 25 (Reuters) - Privately-held French fashion
house Leonard, known for its stylized orchid prints, is being
sold to its long-time parter in Asia, Japan-based Sankyo Seiko,
the company said Monday.
The move marks the end of family ownership for the luxury
label, which was founded in 1958, and symbolizes the struggle of
smaller, independent European houses to maintain relevance in a
fast-shifting and highly competitive retail landscape dominated
by large, global groups such as LVMH LVMH.PA and Kering
PRTP.PA .
Plans are to further expand Leonard, which sells dresses
costing upwards of 1,170 euros as well as accessories, in Asia,
drawing on its presence in South Korea to push further into
Japan and Taiwan, according to the statement.
Financial details of the deal were not given.
The label will maintain its spot on the Paris fashion week
calendar and its spring summer 2023 collection will be the first
show under the directions of the new owner, a retailer and
apparel producer and importer that has worked with the house for
50 years.
"The heritage and know-how of our house will live on
throughout the world for many years to come," said Nathalie
Tribouillard Chassaing, president and ceo of the label founded
by her father, Daniel Tribouillard.
(Reporting by Mimosa Spencer; editing by David Evans)
((Mimosa.Spencer@thomsonreuters.com;))