The house's CEO Eric Langon explained to WWD that its profits had been hit hard by the slowdown in spending in Asia and the impact of terrorist attacks on tourism to Paris and the rest of Europe, and that despite posting a three per cent growth last year it was "not sufficient today to guarantee sustainable growth for the house and its activities in the years to come".
As a result of the closure, the house will lose 79 members of its 330-strong staff from departments including the design studio and distribution, and close its four standalone stores. Langon added that "it is essential for the house to rethink and revitalise itself", and hopes to return the business - an 80 per cent stake of which was acquired by Hong Kong-based Fung Brands Ltd in 2012 - to profitability by 2019.
The news comes shortly after the death of the label's eponymous founder in August this year. At the house's mainline show (designed by Julie de Libran) which took place during Paris Fashion Week, it paid tribute to Rykiel, spelling out her name on the catwalk.
As a result of the closure, the house will lose 79 members of its 330-strong staff from departments including the design studio and distribution, and close its four standalone stores. Langon added that "it is essential for the house to rethink and revitalise itself", and hopes to return the business - an 80 per cent stake of which was acquired by Hong Kong-based Fung Brands Ltd in 2012 - to profitability by 2019.
The news comes shortly after the death of the label's eponymous founder in August this year. At the house's mainline show (designed by Julie de Libran) which took place during Paris Fashion Week, it paid tribute to Rykiel, spelling out her name on the catwalk.
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