By and  on September 25, 2013

LONDON — Change is in the air at Lancel, the leather accessories house owned by Compagnie Financière Richemont.

The house has tapped Nicole Stulman to the post of creative director, WWD has learned, as Richemont shops the brand around the investment community. A Lancel spokeswoman has confirmed the appointment, and said Stulman is already on board.

In an interview with WWD earlier this year, Lancel’s then-chief executive officer Fabrizio Cardinali said he planned to name a new creative director following the resignation of its longtime designer Leonello Borghi, who relocated to New York for personal reasons.

Stulman is currently a design consultant at Reed Krakoff, according to her profile on LinkedIn, and has held top design positions or consultancies at brands including Hermès, Christian Dior, Burberry and Céline.

Richemont, which also owns brands including Cartier, Van Cleef & Arpels and Alfred Dunhill, is selling Lancel, according to industry sources, who say a book on the company has been circulating for a few months.

One source said Richemont, which is working with Nomura, has taken pains to keep the sale process as quiet as possible and has so far been very picky about who gets to see the book.

A Richemont spokesman declined to comment.

Earlier this year, Richemont’s chairman Johann Rupert, who is currently on a year’s sabbatical, told analysts that the company needed to “cull” its bad investments quicker, although he did not give any specifics.

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