Eric Labaume is to be the new president of French fashion house, Jean Paul Gaultier. He was appointed by Gaultier after Donald Potard was forced to leave the firm over two weeks ago. The 53-year-old Labaume, an experienced executive, took over as president last week. Potard quit the company after 20 years because of the losses the firm was suffering during the past few years.

French luxury brand Hermes owns 35 per cent of Gaultier and the company's management had been concerned with the house's lapsed sales. Labaume has experience managing luxury brands, including Ines de la Fressange and Balmain. He began his career at the major French manufacturer, Mendes, which is part of the group that controls the famous Lacoste sportswear label.

The house of Gaultier said in a statement: "Monsieur Jean Paul Gaultier chose Monsieur Eric Labaume for the variety and quality of his experience in the luxury sector, and notably in the areas of production and distribution. His competence and mastery of the fashion métiers will allow him to guide the future development of the house."