Clarins pulls out of couture

French cosmetics house Clarins SA is to pull out of couture after failing to stop losses of more than 20 million euros at its Thierry Mugler unit. Clarins took control of the Thierry Mugler couture business in 1997. Its only venture in clothing saw revenue fall 18 per cent to 29.5 million euros last year.

Pierre Milet, Clarins vice chairman in charge of finance, said the company remains open to offers from trade buyers, though none have been received so far. A meeting of the Thierry Mugler works council has been set for 26 February when Clarins will present any formal closure or sale plans to workers' representatives.

www.clarins.com

February 8, 2003

End of the road for Thierry Mugler?

The end for Thierry Mugler seems to be in sight. Parent company Clarins is considering shutting down the fashion house. In 1997, Clarins acquired the Thierry Mugler couture house. The Group now owns the Thierry Mugler brand name.

A plan to disband the loss-making ready-to-wear will be presented to the company's work council on January 6, while the lucrative perfumes division of the label will continue.

Mugler made his name in the Eighties, creating edgy, colourful designs, with the broad shoulders and nipped waists that typified the power dressing of those days. His designs were chosen by the likes of Diana Ross, Jerry Hall and Ivana Trump. But when grunge set in in the Nineties, Mugler spiralled out of fashion. His company began to record severe losses and his reputation never improved.

Two years ago, he gave up the day-to-day design work of his label to concentrate on his highly successful fragrances, which include Angel. He has since said that fashion just "doesn't interest" him. A spokesman for the withdrawn designer, who is in his fifties, had no comment on the latest announcement from Clarins.

December 20, 2002
www.thierrymugler.co.uk