Japanese wholesale and distribution corporation Sankyo Seiko is buying French vogue residence Leonard. The two companies have been companions for about 50 decades.
There is no information and facts on the terms of the deal, which is predicted to be finalised towards the finish of this week.
A lot more about Leonard acquisition by Sankyo Seiko
Leonard is a privately-held company founded by M. Daniel Tribouillard in 1958. Thanks to its collaboration with Sankyo Seiko, the French style household was capable to set up its footprint in Asian markets of Japan, South Korea and Taiwan.
In accordance to Reuters, the acquisition of Leonard marks an finish of the family ownership of the model. The report suggests that it also “symbolizes the wrestle of lesser, impartial European houses to manage relevance in a quickly-shifting and really aggressive retail landscape dominated by big, international groups such as LVMH and Kering.”
Eighty per cent of Leonard’s profits comes from its association with Sankyo Seiko, which shows the significance of the Asian markets for the French model. Citing a assertion, Reuters says that there are options to even more increase Leonard’s footprint in Asia.
As a heritage luxurious label, Leonard is renowned for its stylised orchid prints.
In 2017, Tribouillard gave his daughters, Nathalie Tribouillard Chassaing and Virginie Tribouillard Bienvenu, control above day-to-working day functions.
Chassaing is the president and CEO of the model and Bienvenu is the handling director. Georg Lux serves as the artistic director of Leonard.
What the firms explained about the deal
“We are pleased to go the torch to Sankyo Seiko, which has accompanied the good results of Leonard Paris in Asia for about 50 years. The heritage and know-how of our dwelling will live on throughout the planet for numerous decades to come,” Chassaing mentioned in a statement.
Akira Inoue, main govt at Sankyo Seiko, extra: “I am so honoured to choose about Leonard as I have the utmost regard for the house’s heritage.”
Leonard will be present at the Paris Trend Week in September 2022 with its spring summer months 2023 selection, which will be created by Lux.
(Primary and Showcased pictures: LEONARD PARIS/@leonardparisofficiel/Fb)
