Pierre Cardin looking to sell fashion empire

French couturier Pierre Cardin is looking to sell his fashion empire to anyone willing to pay a ludicrous amount for it. The 88 years old 'living legend' has no heirs. Analysts estimate the group's worth in the 200 million euro area. 

 

“I know I will be gone in a few years time”, Cardin told the Wall Street Journal, “but the business needs to continue. I want to prepare that transition, and remain as creative director. That would be excellent for the brand's image.”

 

Pierre Cardin claims to have 450 employees, but only has one shop left. The group's worth lies mostly in royalties from products all over the world that proudly boast the names of Pierre Cardin or his restaurant Maxim's, and in his real estate in central Paris and southern France. 

 

10 million x 100 x 1000 = ?

How high the ludicrous amount is, is not entirely certain: according to the Wall Street Journal, Cardin wants 10 million (euro) per country and per country, so “10 million multiplied by 1000 products, multiplied by 100 countries is one billion euro.” It is unclear however if Cardin made a mistake in calculus (the result should be one TRILLION euro), a mistake in translation (as in the European “long scale”, the result is indeed “un billion euro”)... or simply a joke. Whether one billion or one trillion, the amount exceeds by far both the analysts' guesses of 200 million and Cardin's earlier ask price of 500 million  - which remained unanswered.

 

Iconix interested, Louis Vuitton is not

French press agency AFP mentions American interest from Iconix Brand, while the two main French luxury groups (LVMH and PPR) would not be interested in a takeover. They “want to control their own brands, which is not possible in Cardin's licensing policy. 

 

In 2009, Cardin already sold 32 licences for the Chinese market for 200 million euro to Jiansheng Trading Company and Cardanro. 

 

French couturier Pierre Cardin is looking to sell his fashion empire to anyone willing to pay a ludicrous amount for it. The 88 years old 'living legend' has no heirs. Analysts estimate the group's worth in the 200 million euro area. 

 

“I know I will be gone in a few years time”, Cardin told the Wall Street Journal, “but the business needs to continue. I want to prepare that transition, and remain as creative director. That would be excellent for the brand's image.”

 

Pierre Cardin claims to have 450 employees, but only has one shop left. The group's worth lies mostly in royalties from products all over the world that proudly boast the names of Pierre Cardin or his restaurant Maxim's, and in his real estate in central Paris and southern France. 

 

10 million x 100 x 1000 = ?

How high the ludicrous amount is, is not entirely certain: according to the Wall Street Journal, Cardin wants 10 million (euro) per country and per country, so “10 million multiplied by 1000 products, multiplied by 100 countries is one billion euro.” It is unclear however if Cardin made a mistake in calculus (the result should be one TRILLION euro), a mistake in translation (as in the European “long scale”, the result is indeed “un billion euro”)... or simply a joke. Whether one billion or one trillion, the amount exceeds by far both the analysts' guesses of 200 million and Cardin's earlier ask price of 500 million  - which remained unanswered.

 

Iconix interested, Louis Vuitton is not

French press agency AFP mentions American interest from Iconix Brand, while the two main French luxury groups (LVMH and PPR) would not be interested in a takeover. They “want to control their own brands, which is not possible in Cardin's licensing policy. 

 

In 2009, Cardin already sold 32 licences for the Chinese market for 200 million euro to Jiansheng Trading Company and Cardanro. 

 

Questions or comments? Please feel free to contact the editors


Lucas Bols drunk in love with Passoã

16/11/2017

Liquor manufacturer Lucas Bols’ turnover has grown 23.8 % in the first six months of its broken fiscal year, to 48.8 million euro. Aside from 0.5 %, the entire growth is thanks to liquor brand Passoã’s integration.

"Hunkemöller prepares IPO"

16/11/2017

According to financial press agency Bloomberg, investment company Carlyle Group ordered Rothschild bankers to prepare an IPO for Hunkemöller.

Italian Food-focused theme park opens in Bologna

16/11/2017

Fans of Italian cuisine have to head to Italian Bologna, where Eataly World opened, a theme park focused on Italian pasta, wine, pizza and more.

CEO Bernard Deryckere will leave Alpro

16/11/2017

Bernard Deryckere, who was the man behind Belgian dairy company Alpro’s international success, will leave the company after sixteen years. Apparently, he will leave because of differences of opinion with its new owner, Danone.

Ahold USA trials robot in Giant Food Store

15/11/2017

Ahold USA is currently trialing a robot in a Giant Food Store. Its job is to detect dangers and then ask for assistance. He can also point out empty shelves and check prices.

India is promised land for Belgian apples and pears

14/11/2017

India is turning into the promised land for Belgian fruit farmers. It is already Belgian apples’ most important non-European market and Belgian pears are also promoted throughout the country.

Back to top