PARIS — An appeals court here Friday upheld a June 18 decision rejecting French tycoon François Pinault’s plan to transfer the Yves Saint Laurent couture house to a multibrand fashion operation.
This story first appeared in the July 1, 2002 issue of WWD. Subscribe Today.
The ruling by La Cour d’Appel de Paris further darkened prospects that French fashion manufacturer Patrice Bouygues will assume control of the YSL couture operation, which is slated to wind up YSL orders at the end of July following the legendary couturier’s retirement.
Pinault in March agreed to sell the YSL couture atelier, which employs 150 people, for a symbolic euro to Bouygues, who said he wanted to hire five designers to do collections there.
Pinault took the YSL workers’ committee to court in June following their refusal to give an opinion on the takeover deal, a procedure that is required by French law.
A spokeswoman for Pinault declined to comment Friday.
Didier Guyot, legal consultant to YSL’s workers, said the workers’ committee still hoped to hammer out a deal with Pinault that would perpetuate the retiring couturier’s house — but without Bouygues.
“Negotiations should focus on finding a retirement package for some of the workers,” said Guyot. “Secondly, it would be possible to find another designer to design haute couture with the atelier here under their own name.”
If an out-of-court agreement is not reached, Pinault and the YSL workers are slated to meet again in court on Oct. 21 to determine the house’s future.