Sonia Rykiel Fall-2018
Fashion house Sonia Rykiel went bankrupt
French fashion house Sonia Rykiel, owned by the Chinese holding Fung Brand, is declared bankrupt after unsuccessful attempts at restructuring. Brand stores are closing.
Fung Brand bought the Sonia Rykiel brand at the beginning of the 2016, the holding also owns the Belgian luxury leather brand Delvaux and the shoe brand Clergerie. Over the seven years of ownership, shareholders have invested about 200 million euros in the French brand.
In 2018, the fashion house recorded sales of 35 million euros and suffered a net loss of 30 million euros. Bankruptcy proceedings for Sonia Rykiel began in April of 2018, for four months the owners of the fashion house were looking for a solution to restore a business that continued to incur losses, but no solution was found. Now a fashion house with 50-year history, the decision of the Paris court, will be eliminated.
Retail Sonia Rykiel had 10 brand boutiques. The brand has been represented in more than 200 multi-brand stores around the world.
The company is currently managed by the daughter of brand founder Natalie Riquel, who became the head of the fashion house after the death of Sonya Riquel in 2016.
French fashion house Sonia Rykiel, owned by the Chinese holding company Fung Brand, has been declared bankrupt after unsuccessful restructuring attempts. Brand stores ...
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