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The Mugler Effect: $21.6M Loss

PARIS — Groupe Clarins’ 2002 consolidated net sales were negatively impacted by business at Thierry Mugler couture, which lost more than $21.6 million in the period, according to Pierre Milet, vice president of finance at Groupe Clarins...

PARIS — Groupe Clarins’ 2002 consolidated net sales were negatively impacted by business at Thierry Mugler couture, which lost more than $21.6 million in the period, according to Pierre Milet, vice president of finance at Groupe Clarins during its financial analyst meeting here on Thursday.

As reported, Clarins has proposed to shut its Thierry Mugler fashion business. However, the group is open to the possibility of selling it as a license, said Milet.