Sonia Rykiel is closing its men’s wear business after nearly two decades of losses.
The French designer launched Rykiel Homme 18 years ago but the men’s line has never generated a profit – in part due to difficulty in capitalizing on high-growth international markets.
Despite being present in over 33 countries via 150 points of sales in Europe, Russia and the Middle East, Rykiel Homme generated 78 percent of sales in France.
The division contributed 5 percent of Sonia Rykiel total revenues, which in 2007 stood at more than 102 million euros or $158.6 million.
“We are a family run business and we wish to remain so…thus the decision to focus on our core business which is women,” explained Nathalie Rykiel, Sonia Rykiel’s daughter and president of the fashion house.
Rykiel Homme will show its final summer 09 collection at a presentation during Paris fashion week later this month.
The temporary store in Paris will close in January 2009.
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