French fashion house looks to leather goods to revive fortunes
One of France’s more obscure fashion houses, the loss-making Thierry Mugler Couture, is looking to break into the lucrative branded leather goods market as part of its drive to return to profitability.
Part of the French cosmetics group, Clarins SA, Thierry Mugler has steadily reduced its losses in the two years since chairman Vera Strubin took control. Last year, the company generated an operating loss of FFr 38.9 million ($ 5.29 million) - a 27% improvement on the previous year’s figure, while investing FFr 40 million ($ 5.43 million) on a turnover of FFr 269.5 million ($ 36.61 million).
In addition to the new line of leather goods, the company is also planning a new range of jewellery. Both will be launched this June, and followed by a new network of boutiques that is expected to total 50 exclusive outlets by the end of 2003.
