French lingerie producer and distributor SIL Group (of licensed brands like Sonia Rykiel, Christian Lacroix, Cacharel, John Galliano and Kenzo) is in court-imposed liquidation, WWD is reporting.
The firm, acquired by the French underwear firm Eminence in 2003, had positioned itself as an incubator for designer brands. However, the loss last fall of a major client that reportedly accounted for 10% of the company’s turnover sent the firm into a tailspin.
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Come spring a fair share of designer panties could be missing from the market.
Never fear, by fall they could be back. Many of the labels are securing new licensing partners.
Read "SIL Group in Liquidation" here.