PARIS — Alès Groupe plans to shutter its loss-making Phytoderm treatment brand worldwide later this year, the company announced this week.
The Paris-based firm cited failure to achieve profitability targets as the reason for the closure.
The news came as Alès reported 2007 profits down 21.6 percent year-on-year to 6.7 million euros, or $9.18 million at average exchange for the period.
That downturn was mainly a result of increased promotional spend, particularly in the first half, the group stated. Alès devoted 37 percent of its 2007 turnover of 168.3 million euros, or $230.7 million, to marketing, notably to support the launch of Lierac skin care in the U.S., where the brand is sold in 200 drugstores, and to reinvigorate stagnating sales of Phyto hair care in France. Full-year sales progressed by 4.4 percent year-on-year.
Under Lorenza Battigello, who replaced company founder Patrick Alès as managing director in February, the firm plans to boost business in Europe. Three new subsidiaries are scheduled to open by the end of 2009, according to a company spokesman. The first, Alès Groupe Portugal, will open in May this year.
Alès aims to repeat the success Battigello achieved as manager of Alès’ Italian subsidiary for 11 years. Alès Groupe Italia is the firm’s largest subsidiary, generating 37.6 million euros, or $51.5 million in 2007.
Now non-executive president Patrick Alès will focus on research and development, in particular pursuing opportunities for patents, the firm stated. Meanwhile, his son, Romain Alès, has been named president of Caron. He was previously deputy managing director of Alès Groupe. Alès confirmed its one Caron boutique in the U.S. closed last year.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion